EP Energy: 2Q Earnings Snapshot
HOUSTON (AP) _ EP Energy Corp. (EPEG) on Friday reported a loss of $50 million in its second quarter.
On a per-share basis, the Houston-based company said it had a loss of 20 cents. Losses, adjusted for non-recurring costs, were 15 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share.
The independent oil and gas company posted revenue of $256 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $240.1 million.
The company’s shares closed at 15 cents. A year ago, they were trading at $1.91.