Laredo Petroleum: Q2 Earnings Snapshot
TULSA, Okla. (AP) _ Laredo Petroleum Inc. (LPI) on Wednesday reported second-quarter net income of $262.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Tulsa, Oklahoma-based company said it had net income of $15.41. Earnings, adjusted for non-recurring gains, were $7.50 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $7.49 per share.
The oil and natural gas company posted revenue of $560.2 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $431.3 million.