WPX: 2Q Earnings Snapshot
Posted Jul 29, 2020 05:26:45 PM.
Last Updated Jul 29, 2020 05:32:15 PM.
This article is more than 5 years old.
TULSA, Okla. (AP) _ WPX Energy Inc. (WPX) on Wednesday reported a second-quarter loss of $409 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Tulsa, Oklahoma-based company said it had a loss of 73 cents. Earnings, adjusted for one-time gains and costs, came to 12 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The independent oil and gas company posted revenue of $33 million in the period, which missed Street forecasts. Eight analysts surveyed by Zacks expected $536.6 million.
WPX shares have fallen 56% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.98, a fall of 40% 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 WPX at https://www.zacks.com/ap/WPX
The Associated Press
