Earthstone Energy: 3Q Earnings Snapshot
THE WOODLANDS, Texas (AP) _ Earthstone Energy Inc. (ESTE) on Wednesday reported third-quarter earnings of $224,000.
On a per-share basis, the The Woodlands, Texas-based company said it had net income of 1 cent. Earnings, adjusted for non-recurring costs, were 14 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The oil and gas company posted revenue of $46.1 million in the period, surpassing Street forecasts. Seven analysts surveyed by Zacks expected $43 million.
Earthstone Energy shares have decreased 21 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.38, a decline of roughly 8 percent in the last 12 months.