Callon: 3Q Earnings Snapshot
NATCHEZ, Miss. (AP) _ Callon Petroleum Co. (CPE) on Tuesday reported third-quarter net income of $37.9 million.
On a per-share basis, the Natchez, Mississippi-based company said it had profit of 16 cents. Earnings, adjusted for non-recurring costs, were 21 cents per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The independent oil and gas company posted revenue of $161.2 million in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $145.4 million.
Callon shares have decreased 14 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.39, a decline of 14 percent in the last 12 months.