Pioneer Energy: 2Q Earnings Snapshot
SAN ANTONIO (AP) _ Pioneer Energy Services Corp. (PES) on Wednesday reported a loss of $12.9 million in its second quarter.
The San Antonio-based company said it had a loss of 17 cents per share. Losses, adjusted for pretax expenses and asset impairment costs, came to 15 cents per share.
The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for a loss of 15 cents per share.
The oil and gas drilling and production company posted revenue of $152.8 million in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $151.4 million.
The company’s shares closed at 23 cents. A year ago, they were trading at $4.95.