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