APA Corporation Q4 Profit Increases, but misses estimates

(RTTNews) - APA Corporation (APA) revealed a profit for its fourth quarter that increased from the same period last year but missed the Street estimates.

The company's bottom line totaled $1.77 billion, or $5.78 per share. This compares with $443 million, or $1.38 per share, in last year's fourth quarter.

Excluding items, APA Corporation reported adjusted earnings of $352 million or $1.15 per share for the period.

Analysts on average had expected the company to earn $1.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 20.6% to $1.89 billion from $2.38 billion last year.

APA Corporation earnings at a glance (GAAP) :

-Earnings (Q4): $1.77 Bln. vs. $443 Mln. last year. -EPS (Q4): $5.78 vs. $1.38 last year. -Analyst Estimate: $1.35 -Revenue (Q4): $1.89 Bln vs. $2.38 Bln last year.