Gulfport Energy: 3Q Earnings Snapshot
OKLAHOMA CITY (AP) _ Gulfport Energy Corp. (GPOR) on Thursday reported a third-quarter loss of $48.8 million, after reporting a profit in the same period a year earlier.
The Oklahoma City-based company said it had a loss of 31 cents per share. Earnings, adjusted for non-recurring costs, were 24 cents per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The independent oil and gas company posted revenue of $285.2 million in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $326.6 million.
In the final minutes of trading on Thursday, the company’s shares hit $2.76. A year ago, they were trading at $9.11.