QEP Resources: 3Q Earnings Snapshot
DENVER (AP) _ QEP Resources Inc. (QEP) on Wednesday reported third-quarter net income of $7.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Denver-based company said it had profit of 3 cents. Earnings, adjusted for non-recurring costs, were 17 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The independent oil and gas company posted revenue of $560.8 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $494.4 million.
QEP Resources shares have risen slightly more than 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 5 percent. In the final minutes of trading on Wednesday, shares hit $9.80, a fall of 2 percent in the last 12 months.