Earnings Preview: Apache Corp.

Apache Corp. (APA) is expected to report Q3 earnings on Thursday, October 29 before the market open with a conference call scheduled for 2 pm ET.

Guidance

Analysts are looking for EPS of $1.60 on revenue of $2.24B. The consensus range is $1.41-$1.77 for EPS, and $2.1B-$2.37B for revenue, according to First Call. With the economic slowdown, and falling gas and oil prices, many analysts anticipate the company's EPS at half of what it was a year ago and lower revenue as well. But even if the company reports results close to that, investors are looking forward to better times for the oil and gas industry. Shares of Apache have climbed 21.45% since it last reported earnings, and it has record production in the quarter. Apache is very optimistic about the future with successful drilling in Egypt and the Gulf of Mexico.