Anadarko Petroleum Corp. on Feb. 6 reported fourth-quarter adjusted net income of $106 million, or 18 cents per share, up from a net loss of $272 million, or a loss of 50 cents per share, in the prior-year period.
The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 9 cents per share.
The company reported net income attributable to common stockholders of $976 million, or $1.80 per share, up from a loss of $515 million, or a loss of 94 cents per share, in the same period in 2016.
Total revenue for the quarter came in at $2.93 billion, up from $2.39 billion in the year-ago period. Operating income was posted at $338 million for the quarter, climbing from a loss of $610 million in the year-ago period.
Anadarko also reported consolidated adjusted EBITDAX for the full year 2017 of $5.73 billion, up from $4.08 billion in the prior year.
Full-year net income attributable to common stockholders in 2017 was a loss of $456 million compared to a loss of $3.07 billion in 2016.
Total full-year revenue in 2017 was at $11.91 billion up from $7.87 billion a year earlier. The company reported operating loss of $672 million in 2017 compared to a loss of $2.60 billion the previous year.
Anadarko Chairman, President and CEO Al Walker said the company's "very encouraging results" at the end of 2017 was attributable to the continued focus on capital efficiency by investing upstream capital within discretionary cash flow while materially improving margins per barrel. "As we have stated previously, we will complement this capital-efficient investment plan with additional share buybacks, increases to our dividend yield, and improvements to our credit metrics, as market conditions permit, rather than materially increasing our capital expenditures to pursue greater production volume," Walker said.
