Pioneer Energy: 4Q Earnings Snapshot
SAN ANTONIO (AP) _ Pioneer Energy Services Corp. (PES) on Tuesday reported a loss of $14.5 million in its fourth quarter.
On a per-share basis, the San Antonio-based company said it had a loss of 19 cents. Losses, adjusted for one-time gains and costs, were 17 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The oil and gas drilling and production company posted revenue of $141.5 million in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $141.9 million.
For the year, the company reported that its loss narrowed to $49 million, or 63 cents per share. Revenue was reported as $590.1 million.
The company’s shares closed at $1.69. A year ago, they were trading at $2.75.