THE WOODLANDS, Texas (AP) — Anadarko Petroleum Corp. reported net income of $121 million for the third-quarter, as a jump in sales volume helped it recover from a loss a year ago.
The Woodlands, Texas, oil and gas company's earnings disclosed Monday amounted to 24 cents per share. It lost $3.05 billion, or $6.12 per share, in the same quarter last year.
The recent quarter's results included 60 cents per share in a variety of one-time charges, while the year-ago quarter included $6.78 in one-time charges, mainly related to the Gulf Coast oil spill.
Excluding one-time items, the company posted an adjusted profit of 84 cents per share for the 2012 period.
Revenue rose 4 percent to $3.33 billion from $3.2 billion.
Analysts, on average, expected a profit of 85 cents per share on $3.29 billion in revenue, according to a FactSet poll.
Production rose 12 percent to 739,000 barrels of oil equivalent per day. The company also boosted the midpoint of its previous full-year sales volume guidance by 3 million barrels to a range of 265 million to 267 million barrels of oil equivalent.
Anadarko's shares closed at $66.49 on Friday. The stock markets were closed Monday as Hurricane Sandy moved up the East Coast.