Western Gas Equity: 4Q Earnings Snapshot
THE WOODLANDS, Texas (AP) _ Western Gas Equity Partners L.P. (WGP) on Thursday reported fourth-quarter profit of $93.4 million.
The The Woodlands, Texas-based company said it had net income of 43 cents per share. Earnings, adjusted for asset impairment costs, were 70 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The oil and gas transportation and storage company posted revenue of $557.8 million in the period.
For the year, the company reported profit of $369.4 million, or $1.69 per share. Revenue was reported as $1.99 billion.
Western Gas Equity shares have risen 16 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $32.21, a fall of 20 percent in the last 12 months.