Cimarex: 3Q Earnings Snapshot
DENVER (AP) _ Cimarex Energy Co. (XEC) on Monday reported third-quarter profit of $40.5 million.
On a per-share basis, the Denver-based company said it had net income of 39 cents. Earnings, adjusted for non-recurring costs, came to 91 cents per share.
The results did not meet Wall Street expectations. The average estimate of 25 analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The oil and natural gas company posted revenue of $582.3 million in the period, surpassing Street forecasts. Twenty-five analysts surveyed by Zacks expected $569.3 million.
Cimarex shares have decreased 24% since the beginning of the year. In the final minutes of trading on Monday, shares hit $47.10, a decrease of 42% in the last 12 months.