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LONDON, UK / ACCESSWIRE / May 22, 2018 / If you want access to our free earnings report on Anadarko Petroleum Corp. (NYSE: APC), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=APC. The Company posted its financial results on May 01, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The Company reported a positive adjusted net income per diluted share, beating Wall Street's estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Anadarko Petroleum most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
During Q1 FY18, Anadarko Petroleum's total revenues came in at $3.05 billion, which were lower than the $3.77 billion recorded at the end of Q1 FY17. However, the Company's total revenue numbers for the reported quarter topped market consensus estimates of $2.98 billion.
The oil and gas Company reported a net income attributable to common stockholders of $121 million, or $0.22 per diluted share, in Q1 FY18 compared to a net loss attributable to common stockholders of $318 million, or $0.58 loss per diluted share, in Q1 FY17. The Company posted an adjusted net income of $279 million, or $0.52 per diluted share, in Q1 FY18 compared to an adjusted net loss of $330 million, or $0.60 loss per diluted share, in the prior year's same quarter. Meanwhile, market analysts had forecasted the Company to report an adjusted net income of $0.43 per diluted share for Q1 FY18.
Operating Metrics
The Houston, Texas-based Company's total cost and expenses decreased to $2.49 billion during Q1 FY18 from $3.87 billion in the past year's comparable quarter. The Company posted an operating income of $551 million during Q1 FY18 compared to an operating loss of $100 million in Q1 FY17. Furthermore, the Company's earnings before interest, taxes, depreciation, depletion, amortization, and exploration expenses (EBITDAX) stood at $1.65 billion in Q1 FY18 compared to $1.61 billion in Q1 FY17.
For Q1 FY18, Anadarko Petroleum's oil revenues were $2.13 billion compared to $1.66 billion in the last year's corresponding quarter. The Company's average daily oil production volume increased to 371 thousand barrels (MBbls) in Q1 FY18 from 367 MBbls in Q1 FY17. The Company's oil average realized price was $63.66 per bbl during Q1 FY18, up from $50.34 per bbl in Q1 FY17.
Anadarko Petroleum's natural-gas revenues declined to $247 million in Q1 FY18 from $502 million in Q1 FY17. The Company's natural-gas average daily production volume also fell to 1.05 million cubic feet per day (MMcf/d) during Q1 FY18 from 1.86 MMcf/d in Q1 FY17. Furthermore, the Company's natural-gas average realized price was $2.61 per Mcf in Q1 FY18 compared to $3.00 per Mcf in Q1 FY17.
Anadarko Petroleum's natural gas liquids (NGLs) revenues were $292 million in Q1 FY18 compared to $289 million in the previous year's same quarter. The Company's NGLs quarterly average daily production volume totaled 97 MBbls in Q1 FY18, which was lower than 118 MBbls in Q1 FY17. The Company's average NGLs realized price was $33.63 per bbl in Q1 FY18 compared to $27.17 per bbl in Q1 FY17.
Cash Matters and Balance Sheet
For the quarter ended March 31, 2018, Anadarko Petroleum's net cash provided by operating activities was $1.43 billion versus $1.12 billion in the prior year's comparable period. Moreover, the Company's capital expenditure totaled $1.70 billion during Q1 FY18 compared to $1.26 billion in Q1 FY17.
The Company's cash and cash equivalents balance stood at $3.36 billion as on March 31, 2018, compared to $4.55 billion as on December 31, 2017. Furthermore, the Company's net long-term debt increased to $15.64 billion as on March 31, 2018, from $15.55 billion as on December 31, 2017.
Dividend and Share Repurchase
In a separate press release on May 15, 2018, Anadarko Petroleum's Board of Directors declared a quarterly cash dividend on its common stock of $0.25 per share, payable on June 27, 2018, to stockholders of record at the close of business on June 13, 2018.
During the reported quarter, the Company entered into accelerated share repurchase agreements (ASRs) to complete the expanded $3.0 billion share-buyback program by the end of the second quarter, nine months from the initial board authorization.
Outlook
In its guidance for the full year FY18, the Company has anticipated average daily oil sales volume to be in the range of 658.00 to 685.00 BOE/d. The Company's total sales volume is projected to be in the band of 240 million to 250 million BOE/d for FY18. Moreover, the Company's capital expenditure is expected to be in the range of $4.20 million to $4.60 million during FY18.
For Q2 FY18, Anadarko Petroleum expects average daily oil sales volume to be in the range of 615.00 to 640.00 MBOE/d. The Company projects its total sales volume to be in the band of 56 million to 58 million BOE/d for the upcoming quarter. Furthermore, the Company forecasts capital expenditure to be in the range of $1.30 billion to $1.50 billion during Q2 FY18.
Stock Performance Snapshot
May 21, 2018 - At Monday's closing bell, Anadarko Petroleum's stock climbed 1.62%, ending the trading session at $71.71.
Volume traded for the day: 3.43 million shares.
Stock performance in the last month – up 7.85%; previous three-month period – up 21.03%; past twelve-month period – up 34.54%; and year-to-date – up 33.69%
After yesterday's close, Anadarko Petroleum's market cap was at $37.24 billion.
The stock has a dividend yield of 1.39%.
The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry. This sector was up 0.7% at the end of the session.
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