Anadarko Petroleum Corp. said its normalized net income for the fourth quarter amounted to a loss of 26 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 46 cents per share.
The per-share loss decreased 85.9% year over year from $1.84.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $142.4 million, compared with a loss of $933.5 million in the year-earlier period.
The normalized profit margin rose to negative 5.5% from negative 45.9% in the year-earlier period.
Total revenue grew 26.7% on an annual basis to $2.58 billion from $2.03 billion, and total operating expenses fell 22.5% year over year to $3.02 billion from $3.90 billion.
Reported net income totaled a loss of $516.0 million, or a loss of 94 cents per share, compared with a loss of $1.24 billion, or a loss of $2.45 per share, in the prior-year period.
For the year, the company's normalized net income totaled a loss of $3.41 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of $3.05.
EPS was a loss of $10.28 in the prior year.
Normalized net income was a loss of $1.78 billion, compared with a loss of $5.22 billion in the prior year.
Full-year total revenue decreased on an annual basis to $8.45 billion from $9.49 billion, and total operating expenses decreased year over year to $10.13 billion from $17.03 billion.
The company said reported net income came to a loss of $3.08 billion, or a loss of $5.90 per share, in the full year, compared with a loss of $6.70 billion, or a loss of $13.18 per share, the prior year.
