Cimarex: 2Q Earnings Snapshot
DENVER (AP) _ Cimarex Energy Co. (XEC) on Monday reported second-quarter earnings of $109.3 million.
On a per-share basis, the Denver-based company said it had profit of $1.07. Earnings, adjusted for non-recurring gains, were 82 cents per share.
The results did not meet Wall Street expectations. The average estimate of 27 analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.
The oil and natural gas company posted revenue of $546.5 million in the period, which also missed Street forecasts. Twenty-six analysts surveyed by Zacks expected $595.3 million.
Cimarex shares have fallen 27% since the beginning of the year. In the final minutes of trading on Monday, shares hit $45, a drop of 52% in the last 12 months.