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QEP Resources: 2Q Earnings Snapshot

August 7, 2019

DENVER (AP) _ QEP Resources Inc. (QEP) on Wednesday reported second-quarter net income of $48.8 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Denver-based company said it had net income of 20 cents. Losses, adjusted for non-recurring gains, were 4 cents 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 3 cents per share.

The independent oil and gas company posted revenue of $296.2 million in the period, which topped Street forecasts. Six analysts surveyed by Zacks expected $294.6 million.

The company’s shares closed at $4.03. A year ago, they were trading at $10.25.

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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 QEP at https://www.zacks.com/ap/QEP

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