Gastar Exploration: 2Q Earnings Snapshot
HOUSTON (AP) _ Gastar Exploration Inc. (GST) on Thursday reported a loss of $39.4 million in its second quarter.
On a per-share basis, the Houston-based company said it had a loss of 19 cents. Losses, adjusted for asset impairment costs and non-recurring costs, came to 7 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The independent oil and gas company posted revenue of $10 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $18.8 million.
In the final minutes of trading on Thursday, the company’s shares hit 17 cents. A year ago, they were trading at 66 cents.