APA Corporation reported second-quarter 2026 adjusted earnings of $1.89 per share on revenue of $2.37 billion. The results were driven by strong U.S. oil production, which exceeded the company's guidance.
Key Highlights
- U.S. oil production for the second quarter was 123,455 barrels per day, surpassing both guidance and analyst expectations of 121,000 barrels per day.
- The company raised its full-year 2026 U.S. oil production guidance to 123,000 barrels per day, while maintaining its U.S. capital budget at $1.3 billion.
- APA generated $738 million in free cash flow during the quarter and returned $189 million to shareholders through dividends and share repurchases.
- Total debt has declined by $2.3 billion since year-end 2024, with net debt standing at $3.3 billion at the end of the quarter.