Eclipse Resources: 2Q Earnings Snapshot
STATE COLLEGE, Pa. (AP) _ Eclipse Resources Corp. (ECR) on Thursday reported a second-quarter loss of $19 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the State College, Pennsylvania-based company said it had a loss of 6 cents. Earnings, adjusted for non-recurring costs and asset impairment costs, were 1 cent per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The independent oil and gas company posted revenue of $103.6 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $97.5 million.
In the final minutes of trading on Thursday, the company’s shares hit $1.66. A year ago, they were trading at $2.55.