Anadarko Profit Tops Estimates

(RTTNews) - Anadarko Petroleum Corp (APC) on Tuesday reported second-quarter net earnings to stockholders of $61 million or $0.12 per share compared with $227 million or $0.45 per share last year.

Results for the latest quarter included one-time after-tax derivative gains of $145 million, and divestiture losses of $77 million, among other items.

Excluding items, adjusted earnings for the quarter were $0.01 per share compared with $1.32 per share a year ago.

On average, 33 analysts polled by Thomson Reuters estimated a loss of $0.51 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were $2.64 billion compared with $4.44 billion in the prior year. Twelve analysts had a consensus revenue estimate of $2.66 billion for the quarter.

During the quarter, Anadarko's sales volumes of oil, natural gas and natural gas liquids totaled 77 million barrels of oil equivalent (mmboe), or an average of 846,000 boe per day.

For the third quarter, the company expects sales volumes of 71 to 73 mmboe; and for the full year 2015, it expects 298 to 302 mmboe.