Parsley Energy: 2Q Earnings Snapshot
Posted August 5, 2020 4:27 pm.
Last Updated August 5, 2020 4:38 pm.
This article is more than 5 years old.
AUSTIN, Texas (AP) _ Parsley Energy Inc. (PE) on Wednesday reported a second-quarter loss of $356.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Austin, Texas-based company said it had a loss of 95 cents. Earnings, adjusted for non-recurring costs, were 3 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.
The independent oil and gas company posted revenue of $220.2 million in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $327.2 million.
Parsley Energy shares have decreased 39% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.46, a drop of 19% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PE at https://www.zacks.com/ap/PE
The Associated Press
