EP Energy: 2Q Earnings Snapshot
HOUSTON (AP) _ EP Energy Corp. (EPE) on Thursday reported a loss of $58 million in its second quarter.
On a per-share basis, the Houston-based company said it had a loss of 23 cents. Losses, adjusted for non-recurring costs, came to 1 cent per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The independent oil and gas company posted revenue of $265 million in the period. Its adjusted revenue was $329 million, exceeding Street forecasts. Five analysts surveyed by Zacks expected $318.5 million.
In the final minutes of trading on Thursday, the company’s shares hit $1.85. A year ago, they were trading at $3.23.