Earthstone Energy: 3Q Earnings Snapshot
THE WOODLANDS, Texas (AP) _ Earthstone Energy Inc. (ESTE) on Wednesday reported third-quarter profit of $11.8 million.
The The Woodlands, Texas-based company said it had net income of 41 cents per share. Earnings, adjusted for non-recurring gains, came to 18 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The oil and gas company posted revenue of $39.2 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $39.4 million.
In the final minutes of trading on Wednesday, the company’s shares hit $4.51. A year ago, they were trading at $8.09.