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Anadarko Petroleum Q3 loss narrows YOY

Anadarko Petroleum Corp. said its third-quarter normalized net income came to a loss of 74 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 56 cents per share.

The per-share loss narrowed 77.1% year over year from $3.24.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $383.0 million, compared with a loss of $1.64 billion in the year-earlier period.

The normalized profit margin rose to negative 16.3% from negative 73.7% in the year-earlier period.

Total revenue totaled $2.25 billion, compared with $2.23 billion in the prior-year period, and total operating expenses declined 38.8% from the prior-year period to $2.51 billion from $4.11 billion.

Reported net income totaled a loss of $832.4 million, or a loss of $1.61 per share, compared with a loss of $2.24 billion, or a loss of $4.41 per share, in the prior-year period.