Gulfport Energy: 2Q Earnings Snapshot
Aug. 01, 2018
OKLAHOMA CITY (AP) _ Gulfport Energy Corp. (GPOR) on Wednesday reported second-quarter net income of $111.3 million.
On a per-share basis, the Oklahoma City-based company said it had profit of 64 cents. Earnings, adjusted for non-recurring gains, came to 33 cents per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The independent oil and gas company posted revenue of $252.7 million in the period, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $329.5 million.
Gulfport Energy shares have decreased 11 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.36, a drop of 11 percent in the last 12 months.