SAN ANTONIO (AP) _ Abraxas Petroleum Corp. (AXAS) on Monday reported a first-quarter loss of $25.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the San Antonio-based company said it had a loss of 15 cents. Earnings, adjusted for non-recurring costs, came to 2 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The energy company posted revenue of $34.5 million in the period.
In the final minutes of trading on Monday, the company's shares hit $1.35. A year ago, they were trading at $2.71.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXAS at https://www.zacks.com/ap/AXAS