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Basic Energy: 1Q Earnings Snapshot

FORT WORTH, Texas (AP) _ Basic Energy Services Inc. (BAS) on Thursday reported a loss of $27.5 million in its first quarter.

On a per-share basis, the Fort Worth, Texas-based company said it had a loss of $1.02.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.21 per share.

The oil and gas field service company posted revenue of $197.2 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $202.4 million.

In the final minutes of trading on Thursday, the company's shares hit $2.45. A year ago, they were trading at $14.93.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BAS at https://www.zacks.com/ap/BAS