SRC Energy: 2Q Earnings Snapshot
DENVER (AP) _ SRC Energy Inc. (SRCI) on Wednesday reported second-quarter profit of $49.6 million.
On a per-share basis, the Denver-based company said it had profit of 20 cents. Earnings, adjusted for non-recurring costs, came to 25 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The oil and gas company posted revenue of $147.1 million in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $144.9 million.
SRC Energy shares have risen 32 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.27, a climb of 34 percent in the last 12 months.