Every 10-Q that APA Corp (US) (APA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow APA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full APA filings page.
APA Corporation reported stronger first‑quarter 2026 results, with net income attributable to common stock rising to $446 million, or $1.26 per diluted share, from $347 million, or $0.96 per share, a year earlier. Higher earnings came mainly from improved margins on third‑party purchased oil and gas activity and lower operating expenses following cost‑saving initiatives.
Oil, natural gas and NGL production revenues declined to $1.94 billion from $2.04 billion as volumes fell 6% to 442,352 boe per day and realized gas and NGL prices weakened, partly offset by higher oil prices. Operating expenses dropped to $1.39 billion from $1.85 billion, driven by sharply lower purchased oil and gas costs, reduced lease operating and transaction costs, and lower DD&A.
Operating cash flow was $554 million, down from $1.10 billion, largely due to prior‑year Egypt receivable collections and working capital timing. APA invested $542 million in upstream capital, repaid $79 million of maturing debt, paid $88 million in dividends, and ended the quarter with $293 million in cash and $4.41 billion of total debt.
APA Corporation reported stronger results for the quarter ended September 30, 2025. Total revenues were $2,115 million, and net income attributable to common stock was $205 million (diluted EPS $0.57), compared with a loss of $223 million (EPS $(0.60)) a year ago. Year to date, net income attributable to common stock reached $1,155 million.
Operating cash flow for the first nine months was $3,737 million, funding $2,156 million of upstream additions and supporting balance sheet improvements. Total debt fell to $4,488 million from $6,044 million at year-end, aided by note redemptions, open‑market repurchases, and a $135 million gain related to January exchange and tender activity. Financing costs, net, declined sharply versus 2024.
Portfolio actions included selling New Mexico Permian assets for $573 million, generating a $282 million gain, with proceeds used primarily for debt reduction. APA recorded a quarterly derivative loss of $97 million but realized gains for the period. The company also received an award of two million net exploration acres in Egypt with a $25 million signature bonus, and reported significant collections from EGPC, with substantially all remaining balances current.
APA Corp. Q2 2025 10-Q highlights:
- Revenue softened: Total Q2 sales fell 14% YoY to $2.18 bn on lower commodity prices; six-month sales up 7% to $4.81 bn.
- Profitability improved: Net income attributable to common stock rose 11% YoY to $603 m (EPS $1.67) and 41% YTD to $950 m (EPS $2.62), aided by $282 m gain on New Mexico Permian divestiture and $138 m derivative gains.
- Cost discipline: Lease operating expense down 20% YoY; G&A down 22%; transaction/reorg costs normalized (-90% YoY).
- Cash flow & leverage: Operating cash flow jumped to $2.28 bn (+83% YoY). Long-term debt cut to $4.29 bn from $5.99 bn; net debt/OCF now ≈1.9×. Cash balance declined to $107 m after $954 m bond repurchases and $181 m dividends.
- Balance-sheet shifts: Equity climbed to $5.91 bn (vs $5.28 bn) as accumulated deficit narrowed and treasury share buybacks continued.
- Capital allocation: Upstream capex $1.44 bn; management used divestiture proceeds and new APA notes to refinance Apache debt, lowering interest expense (financing costs $66 m vs $100 m).
Guidance not updated, but filing reiterates focus on debt reduction, disciplined Permian investment and shareholder returns amid price volatility.