Basic Energy: 2Q Earnings Snapshot
FORT WORTH, Texas (AP) _ Basic Energy Services Inc. (BAS) on Tuesday reported a loss of $40.1 million in its second quarter.
On a per-share basis, the Fort Worth, Texas-based company said it had a loss of $1.51. Losses, adjusted for non-recurring costs, came to 83 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 62 cents per share.
The oil and gas field service company posted revenue of $253.4 million in the period.
Basic Energy shares have decreased 52 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $11.28, a decline of 50 percent in the last 12 months.