Superior Energy: 2Q Earnings Snapshot
HOUSTON (AP) _ Superior Energy Services Inc. (SPN) on Tuesday reported a loss of $26.4 million in its second quarter.
On a per-share basis, the Houston-based company said it had a loss of 17 cents. Losses, adjusted to account for discontinued operations, came to 16 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.
The oilfield services company posted revenue of $535.5 million in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $537.5 million.
Superior Energy shares have declined almost 2 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $9.48, a drop of 9 percent in the last 12 months.