Sanchez Energy: 2Q Earnings Snapshot
HOUSTON (AP) _ Sanchez Energy Corp. (SN) on Tuesday reported a second-quarter loss of $35 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Houston-based company said it had a loss of 71 cents. Losses, adjusted for non-recurring costs, were 26 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The independent oil and gas company posted revenue of $259.3 million in the period, beating Street forecasts. Six analysts surveyed by Zacks expected $252.5 million.
The company’s shares closed at $4.57. A year ago, they were trading at $4.70.