Jun 2026 (Q2 FY26) — Aug 6, 2026
APA Q2 FY26 — Strong Operational Execution Drives Higher Production, Lower Costs, and Accelerated Debt Reduction
Read the full callAPA (APA) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
APA earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | Quarterly, as filed | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 747 | +23.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
12 of 12 judged targets kept · 38 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Additional combined run rate savings across G&A, capital and LOE | Additional $50 million to $100 million in combined run rate savings by end of 2026 | Sep 2025 | we now expect to exit the year with approximately $500 million of annualized run rate savings | Revised Up |
| Alaska North Slope appraisal and exploration wells | Spud two wells (Sakai appraisal and Chinook exploration) in 2027 | Jun 2026 | then spud 2 wells in '27 | New |
38 of APA Corp's 50 targets are still open. See which are on track and which have gone quiet. The 2 above are the free sample; 48 more targets are in the full ledger.
Claimed
- Annualized run rate savings target increased to $500 million from $450 million.
- Permian oil production guidance raised to 123,000 barrels per day while capital budget remains unchanged at $1.3 billion.
- Generated $738 million of free cash flow during Q2 FY26.
- Repaid $752 million of bond debt in H1 FY26, including $673 million in Q2 FY26.
- Net debt target of $3 billion expected to be achieved in 2027, ahead of the 3-4 year timeframe.
Qualified
- Deferred tax expense increased due to higher U.S. income, accelerating NOL utilization (non-cash item).
- Near-term Egypt gas outlook slightly reduced due to outperformance from rich gas discoveries deferring lower pressure gas volumes at Caser.
- Slightly lower exploration capital due to timing of Block 58 exploration well, now expected in 2027 instead of late Q4 2026.
Price
$49.76 +1.24% · +$0.61
Performance +121.0% 1Y
1Y: $22.52 on 17 Oct 2025 → $49.76. High $49.76 (19 Oct 2026), low $21.66 (5 Nov 2025).
- Previous close
- $49.15
- 52-week range
- $21.66 – $49.76
- One year
- +121.25%
Overview
- Symbol
- APA
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
12 of 12 judged targets kept · 38 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Additional combined run rate savings across G&A, capital and LOE | Additional $50 million to $100 million in combined run rate savings by end of 2026 | Sep 2025 | we now expect to exit the year with approximately $500 million of annualized run rate savings | Revised Up |
| Alaska North Slope appraisal and exploration wells | Spud two wells (Sakai appraisal and Chinook exploration) in 2027 | Jun 2026 | then spud 2 wells in '27 | New |
Claimed
- Annualized run rate savings target increased to $500 million from $450 million.
- Permian oil production guidance raised to 123,000 barrels per day while capital budget remains unchanged at $1.3 billion.
- Generated $738 million of free cash flow during Q2 FY26.
- Repaid $752 million of bond debt in H1 FY26, including $673 million in Q2 FY26.
- Net debt target of $3 billion expected to be achieved in 2027, ahead of the 3-4 year timeframe.
Qualified
- Deferred tax expense increased due to higher U.S. income, accelerating NOL utilization (non-cash item).
- Near-term Egypt gas outlook slightly reduced due to outperformance from rich gas discoveries deferring lower pressure gas volumes at Caser.
- Slightly lower exploration capital due to timing of Block 58 exploration well, now expected in 2027 instead of late Q4 2026.
The full ledger
Open APA Corp’s full ledger
A free account opens 5 company ledgers a month. All 50 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
APA Corporation Q1 FY26 — Strong FCF and Raised US Oil Outlook Amidst Market Volatility
Read the full callDec 2025 (Q4 FY25) — Feb 26, 2026
APA Q4 FY25 — Strong Execution, Cost Leadership, and Permian Inventory Depth
Read the full callEvery analysed call
APA earnings calls (APA)
Financials
What the filings say
Net profit, year on year: +24% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Expenses | 2,880 | 2,002 | 1,849 | 1,584 | 1,507 | 1,489 | 1,385 | 1,122 |
| Operating profit | -143 | 915 | 865 | 739 | 767 | 718 | 1,055 | 1,280 |
| Profit before tax | -340 | 500 | 763 | 1,028 | 511 | 489 | 830 | 1,277 |
| Net profit | -223 | 354 | 347 | 603 | 205 | 279 | 446 | 747 |
| EPS ($ per share) | -0.60 | — | 0.96 | 1.67 | 0.57 | — | 1.26 | 2.11 |
| Line item | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Equity capital | — | 262 | 262 | 262 | 263 | 307 | 308 |
| Reserves | — | -10,461 | -9,488 | -5,814 | -2,959 | -2,155 | -721 |
| Total liabilities | 13,642 | 13,391 | 14,020 | 11,802 | 11,553 | 13,028 | 10,758 |
| Fixed assets | 14,158 | 8,819 | 225 | 206 | 217 | 183 | 146 |
| Total assets | 18,107 | 12,746 | 13,303 | 13,147 | 15,244 | 19,390 | 17,761 |
| Line item | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Cash from operations | 2,867 | 1,388 | 3,496 | 4,943 | 3,129 | 3,620 | 4,545 |
| Cash from investing | -3,446 | -1,466 | -833 | -1,511 | -2,138 | -924 | -2,153 |
| Cash from financing | 112 | 93 | -2,623 | -3,489 | -1,149 | -2,158 | -2,501 |
| Net cash flow | -467 | 15 | 40 | -57 | -158 | 538 | -109 |
| Capital expenditure | -2,634 | -1,274 | -1,110 | -1,770 | -2,313 | -2,851 | -2,740 |
| Free cash flow | 233 | 114 | 2,386 | 3,173 | 816 | 769 | 1,805 |
Insider filings
128 filings between Dec 19, 2025 and Sep 30, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$1.23M
2 sales by 2 insiders
Compensation
not trading decisions- 28
- Award — granted as compensation
- 45
- Option exercise — converted options into shares
- 20
- Tax withheld — shares kept back by the company to cover tax
Also filed: 25 dispositions to the issuer, 8 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Bob Matthew Regis | — | $833.4K | Mar 18, 2026 |
| Maddox Mark D | — | $392.4K | May 20, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 30, 2026 | Bay Annell R Director | Award | 1,203 | $0 |
| Sep 30, 2026 | Ragauss Peter A Director | Award | 1,203 | $0 |
| Sep 30, 2026 | Joung Chansoo Director | Award | 1,203 | $0 |
| Sep 30, 2026 | Weaving Anya Director | Award | 1,203 | $0 |
| Sep 30, 2026 | Hooper Charles W Director | Award | 1,203 | $0 |
| Sep 30, 2026 | Fisher Kenneth M. Director | Award | 1,203 | $0 |
| Sep 30, 2026 | Ellis Juliet S Director | Award | 1,203 | $0 |
| Sep 30, 2026 | McKay Lamar Director | Award | 1,804 | $0 |
| Sep 30, 2026 | STOVER DAVID L Director | Award | 1,203 | $0 |
| Jun 30, 2026 | McKay Lamar Director | Award | 2,302 | $0 |
| Jun 30, 2026 | Ragauss Peter A Director | Award | 1,535 | $0 |
| Jun 30, 2026 | Ellis Juliet S Director | Award | 1,535 | $0 |
| Jun 30, 2026 | STOVER DAVID L Director | Award | 1,535 | $0 |
| Jun 30, 2026 | Bay Annell R Director | Award | 1,535 | $0 |
| Jun 30, 2026 | Weaving Anya Director | Award | 1,535 | $0 |
| Jun 30, 2026 | Fisher Kenneth M. Director | Award | 1,535 | $0 |
| Jun 30, 2026 | Joung Chansoo Director | Award | 1,535 | $0 |
| Jun 30, 2026 | Hooper Charles W Director | Award | 1,535 | $0 |
| May 26, 2026 | Henderson Tracey K Executive VP Exploration | Option exercise | 5,000 | $0 |
| May 26, 2026 | Henderson Tracey K Executive VP Exploration | Tax withheld | 1,968 | $73.8K |
| May 20, 2026 | Maddox Mark D Executive VP - Administration | Sale | 9,800 | $392.4K |
| Mar 31, 2026 | Ragauss Peter A Director | Award | 1,178 | $0 |
| Mar 31, 2026 | Joung Chansoo Director | Award | 1,178 | $0 |
| Mar 31, 2026 | Weaving Anya Director | Award | 1,178 | $0 |
| Mar 31, 2026 | McKay Lamar Director | Award | 1,767 | $0 |
| Mar 31, 2026 | Hooper Charles W Director | Award | 1,178 | $0 |
| Mar 31, 2026 | Fisher Kenneth M. Director | Award | 1,178 | $0 |
| Mar 31, 2026 | Ellis Juliet S Director | Award | 1,178 | $0 |
| Mar 31, 2026 | Bob Matthew Regis Director | Award | 1,178 | $0 |
| Mar 31, 2026 | STOVER DAVID L Director | Award | 1,178 | $0 |
| Mar 31, 2026 | Bay Annell R Director | Award | 1,178 | $0 |
| Mar 18, 2026 | Bob Matthew Regis Director | Sale | 23,000 | $833.4K |
| Feb 1, 2026 | CHRISTMANN JOHN J CEO | Gift | 1,438 | $0 |
| Feb 1, 2026 | CHRISTMANN JOHN J CEO | Gift | 1,438 | $0 |
| Feb 1, 2026 | CHRISTMANN JOHN J CEO | Gift | 1,438 | $0 |
| Feb 1, 2026 | CHRISTMANN JOHN J CEO | Gift | 1,438 | $0 |
| Feb 1, 2026 | CHRISTMANN JOHN J CEO | Gift | 1,438 | $0 |
| Feb 1, 2026 | CHRISTMANN JOHN J CEO | Tax withheld | 10,514 | $277.7K |
| Feb 1, 2026 | CHRISTMANN JOHN J CEO | Gift | 1,438 | $0 |
| Feb 1, 2026 | CHRISTMANN JOHN J CEO | Option exercise | 26,717 | $0 |
| Feb 1, 2026 | Henderson Tracey K Executive VP Exploration | Tax withheld | 2,424 | $64.0K |
| Feb 1, 2026 | Henderson Tracey K Executive VP Exploration | Option exercise | 6,158 | $0 |
| Feb 1, 2026 | Riney Stephen J President | Option exercise | 15,202 | $0 |
| Feb 1, 2026 | Maddox Mark D Executive VP - Administration | Tax withheld | 2,424 | $64.0K |
| Feb 1, 2026 | Maddox Mark D Executive VP - Administration | Option exercise | 6,158 | $0 |
| Feb 1, 2026 | Rodgers Ben C EVP and CFO | Tax withheld | 1,662 | $43.9K |
| Feb 1, 2026 | Rodgers Ben C EVP and CFO | Option exercise | 4,222 | $0 |
| Feb 1, 2026 | Warnica Kimberly O. EVP, CLO & Secretary | Tax withheld | 2,616 | $69.1K |
| Feb 1, 2026 | Warnica Kimberly O. EVP, CLO & Secretary | Option exercise | 5,981 | $0 |
| Feb 1, 2026 | Riney Stephen J President | Tax withheld | 5,982 | $158.0K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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