APA Reports 2Q:21 Net Income of $388mn

(APA, 5.May.2021) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the first-quarter 2021.

APA reported net income attributable to common stock of $388mn, or $1.02 per diluted share. When adjusted for items that impact the comparability of results, APA’s first-quarter earnings were $346mn, or $0.91 per diluted share. Net cash provided by operating activities was $671mn, and adjusted EBITDAX was $1.14bn. The company generated $502mn in free cash flow during the quarter.

“We made excellent progress during the first quarter with regard to our top priority of free cash flow generation and net debt reduction,” said John J. Christmann IV, APA’s CEO and president. “We performed well relative to our production expectations, demonstrated good capital and cost discipline, delivered excellent safety performance across the organization despite challenging weather events, and made significant progress on our ESG goals, which are focused on air, water, people and communities.”