APA Corporation Q1 Profit Decreases, misses estimates

(RTTNews) - APA Corporation (APA) released a profit for first quarter that decreased from last year and missed the Street estimates.

The company's bottom line totaled $132 million, or $0.44 per share. This compares with $242 million, or $0.78 per share, in last year's first quarter.

Excluding items, APA Corporation reported adjusted earnings of $237 million or $0.78 per share for the period.

Analysts on average had expected the company to earn $0.94 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.0% to $1.95 billion from $2.01 billion last year.

APA Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $132 Mln. vs. $242 Mln. last year. -EPS (Q1): $0.44 vs. $0.78 last year. -Revenue (Q1): $1.95 Bln vs. $2.01 Bln last year.