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Pioneer Energy: 2Q Earnings Snapshot

July 31, 2018

SAN ANTONIO (AP) _ Pioneer Energy Services Corp. (PES) on Tuesday reported a loss of $18.2 million in its second quarter.

The San Antonio-based company said it had a loss of 23 cents per share. Losses, adjusted for one-time gains and costs, came to 19 cents per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.

The oil and gas drilling and production company posted revenue of $154.8 million in the period, matching Street forecasts.

The company’s shares closed at $4.95. A year ago, they were trading at $2.30.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PES at https://www.zacks.com/ap/PES

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