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APA 8-K Report, Financial Results (Aug 5, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed August 5, 2026
Period End
August 5, 2026
Security
APA
In the record · 2021–202610-K510-Q188-K64

APA filed 5 annual reports (10-K), 18 quarterly reports (10-Q) and 64 current reports (8-K) between 2021 and 2026.

  1. Material agreement8-K · May ’22May ’22
  2. Leadership change8-K · Apr ’24Apr ’24
  3. Leadership change8-K · Nov ’25Nov ’25

01—Abstract

Summary

Summary of the 8-K filed August 5, 2026. Cited figures are marked; the original filing is the authoritative source.

APA Corporation reported second-quarter 2026 net income attributable to common stock of $747 milliona, or $2.11 per diluted share.

Adjusted earnings were $669 millionb, or $1.89 per diluted share. Reported production was approximately 410,000 barrels of oil equivalent (BOE) per day, and adjusted production was 347,000 BOE per day, both above guidance. U.S. oil production averaged 123,500 barrels per day, 2,500 barrels per day above guidance.

The company generated $1.7 billionc of net cash provided by operating activities, $738 million of free cash flow and $1.8 billion of adjusted EBITDAX. It returned $189 million to shareholders through dividends and share repurchases in the quarter. The balance sheet strengthened over the period.

APA repaid $752 milliond of near-term bond debt in the first half of 2026 and has reduced total debt by $2.3 billion since year-end 2024, which the company says lowers annualized interest expense by more than $155 million. Net debt was $3.3 billion at June 30, 2026. Management expects to return at least 60% of free cash flow to shareholders in 2026 while also strengthening the balance sheet.

The company raised its full-year U.S. oil production guidance to 123,000 barrels per day, kept U.S. capital at $1.3 billion, lowered lease operating expense guidance by $25 million to $1.5 billion, and raised its expected 2026 exit run-rate cost savings to $500 million from $450 million. On exploration, APA has a pending agreement to acquire Savant Alaska, LLC for $70 million in upfront consideration before customary closing adjustments, plus contingent payments tied to future development of its eastern North Slope position.

Closing is expected by year-end 2026, subject to regulatory approval and customary conditions. In Uruguay, APA signed Eni S.p.A. as a strategic partner in offshore Block 6, with APA retaining a 60% working interest and Eni funding most of the initial exploration well planned for 2027.

02—Key points

Key Highlights

  1. Q2 2026 net income attributable to common stock of $747 million ($2.11 diluted EPS); adjusted earnings of $669 million ($1.89 per diluted share).
  2. Q2 2026 reported production of approximately 410,000 BOE per day and adjusted production of 347,000 BOE per day, both exceeding guidance; U.S. oil production of 123,500 barrels per day was 2,500 barrels per day above guidance.
  3. Q2 2026 net cash from operations of $1.7 billion, adjusted EBITDAX of $1.8 billion and free cash flow of $738 million; first-half free cash flow totaled $1.2 billion.
  4. Debt reduction: $752 million of near-term bonds repaid in the first half of 2026; total debt down $2.3 billion since year-end 2024; net debt of $3.3 billion at June 30, 2026.
  5. Full-year 2026 guidance: U.S. oil production raised to 123,000 barrels per day, U.S. capital held at $1.3 billion, total upstream capital of $2.07 billion, and lease operating expense guidance lowered by $25 million to $1.5 billion.
  6. Exit 2026 run-rate cost savings target raised to $500 million from $450 million.
  7. Pending Savant Alaska acquisition for $70 million upfront (closing expected by year-end 2026) and a new Uruguay partnership with Eni S.p.A. on Block 6, where APA retains a 60% working interest.

03—Questions

Frequently Asked Questions

  1. How did APA's second-quarter 2026 earnings compare with its reported and adjusted results?

    APA reported net income attributable to common stock of $747 million, or $2.11 per diluted share. Adjusted earnings, which exclude certain items affecting comparability, were $669 million, or $1.89 per diluted share. The filing reconciles these figures to GAAP results in its non-GAAP tables.

  2. How much capital is APA returning to shareholders, and what is the stated policy?

    APA returned $189 million to shareholders in the second quarter through dividends and share repurchases, including the repurchase of 2.8 million shares at an average price of $35.26. Cumulative first-half returns totaled $277 million. The company expects to return at least 60% of free cash flow to shareholders in 2026 while also strengthening the balance sheet.

  3. What changed in APA's full-year 2026 guidance?

    APA raised its U.S. oil production outlook to 123,000 barrels per day and maintained U.S. capital at $1.3 billion. Total company upstream capital investment is expected to be $2.07 billion, reflecting slightly lower exploration spend due to a shift in timing of Suriname Block 58 activity. Lease operating expense guidance was lowered by $25 million to $1.5 billion.

  4. What is the Savant Alaska acquisition, and when is it expected to close?

    APA has a pending agreement to acquire Savant Alaska, LLC for $70 million in upfront consideration before customary closing adjustments, plus contingent payments tied to future development of its eastern North Slope position. The acquisition secures midstream, pipeline and field infrastructure adjacent to APA's acreage. Closing is expected by year-end 2026, subject to regulatory approval and customary closing conditions.

04—Continue

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