Superior Energy: 4Q Earnings Snapshot
HOUSTON (AP) _ Superior Energy Services Inc. (SPN) on Monday reported a fourth-quarter loss of $750.2 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Houston-based company said it had a loss of $4.85. Losses, adjusted for non-recurring costs, came to 20 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 29 cents per share.
The oilfield services company posted revenue of $539.3 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $517.7 million.
For the year, the company reported that its loss widened to $858.1 million, or $5.56 per share. Revenue was reported as $2.13 billion.
Superior Energy shares have increased 60 percent since the beginning of the year. The stock has declined 40 percent in the last 12 months.