QEP Resources: 2Q Earnings Snapshot
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.