Earthstone Energy: 2Q Earnings Snapshot
THE WOODLANDS, Texas (AP) _ Earthstone Energy Inc. (ESTE) on Monday reported second-quarter net income of $650,000, after reporting a loss in the same period a year earlier.
On a per-share basis, the The Woodlands, Texas-based company said it had profit of 2 cents.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The oil and gas company posted revenue of $37.2 million in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $39.2 million.
Earthstone Energy shares have declined 8.5 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.73, rising slightly in the last 12 months.