AP NEWS

Approach Resources: 2Q Earnings Snapshot

August 2, 2018

FORT WORTH, Texas (AP) _ Approach Resources Inc. (AREX) on Wednesday reported a loss of $9.1 million in its second quarter.

On a per-share basis, the Fort Worth, Texas-based company said it had a loss of 10 cents. Losses, adjusted for non-recurring costs, came to 7 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.

The oil and gas company posted revenue of $30.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $28.2 million.

The company’s shares closed at $2.24. A year ago, they were trading at $2.97.

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

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