APA Corporation announces third-quarter 2026
APA Corp reported quarterly results highlighted by generated $1.38 billion of net cash provided by operating activities, $699 million of free cash flow, and $1.86 billion of adjusted EBITDAX;, according to its earnings release filed with an 8-K Wednesday.
Returned $537 million to shareholders including $450 million of share repurchases;. Repaid $451 million of debt maturities in the third quarter; total debt has declined by $2.8 billion since year-end 2024, lowering annualized interest expense by more than $180 million;. Reiterated $500 million run-rate cost savings across capital, lease operating expense and G&A by year-end 2026;. Increased full-year 2026 free cash flow outlook to $2.9 billion, reflecting stronger operating performance and higher commodity prices;.
John J. Christmann IV said, "We are delivering another strong year, with our third-quarter results reflecting the quality of our assets and consistent execution across the business,"
Results detail
Further figures in the release included Lowered net debt target to $2 billion, reinforcing commitment to a strong balance sheet; and; Established preliminary capital budget of $2.5 billion for 2027; exploration capital and GranMorgu development to account for 60% of the year-over-year increase; Fourth-quarter upstream capital investment is expected to be $525 million reflecting timing shifts in Suriname and increased Permian activity.
The filing is an Item 2.02 results announcement furnished with Exhibit 99.1. Comparisons use the year-earlier period as presented by APA Corp unless the release specifies another baseline. Where both GAAP and non-GAAP metrics appear, both are summarized when the extract includes them.
Segment mix, cash flow and any outlook language in the release are the usual secondary reads after the headline revenue and earnings figures. One-time items—restructuring, impairments, gains on sales or legal settlements—can move GAAP profit without changing the run-rate story, so reconciliations remain essential.
Why it matters
For retail investors, the APA Corp print is a check on whether growth, margins and cash generation are moving together. The figures above come from the company’s Exhibit 99.1 earnings materials; how they stack up against the prior-year run rate and any guide published with the release will shape the near-term debate.
By the numbers
- Generated $1.38 billion of net cash provided by operating activities, $699 million of free cash flow, and $1.86 billion of adjusted EBITDAX;
- Returned $537 million to shareholders including $450 million of share repurchases;
- Repaid $451 million of debt maturities in the third quarter; total debt has declined by $2.8 billion since year-end 2024, lowering annualized interest expense by more than $180 million;
- Reiterated $500 million run-rate cost savings across capital, lease operating expense and G&A by year-end 2026;
- Increased full-year 2026 free cash flow outlook to $2.9 billion, reflecting stronger operating performance and higher commodity prices;
- Lowered net debt target to $2 billion, reinforcing commitment to a strong balance sheet; and
Sources
- APA Corp Form 8-K with quarterly financial results, filed 2026-11-04 (accession 0001841666-26-000063)
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