Cimarex: 3Q Earnings Snapshot
DENVER (AP) _ Cimarex Energy Co. (XEC) on Tuesday reported third-quarter profit of $148.4 million.
On a per-share basis, the Denver-based company said it had profit of $1.56. Earnings, adjusted for non-recurring costs, were $1.99 per share.
The results beat Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The oil and natural gas company posted revenue of $591.5 million in the period, also beating Street forecasts. Seventeen analysts surveyed by Zacks expected $553.3 million.
Cimarex shares have decreased 32 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $83.22, a drop of 34 percent in the last 12 months.