Basic Energy: 2Q Earnings Snapshot

July 31, 2018

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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BAS at https://www.zacks.com/ap/BAS

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