Pioneer Energy: 2Q Earnings Snapshot
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.