U.S. Markets closed

Basic Energy: 2Q Earnings Snapshot

FORT WORTH, Texas (AP) _ Basic Energy Services Inc. (BAS) on Wednesday reported a loss of $27.8 million in its second quarter.

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

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 86 cents per share.

The oil and gas field service company posted revenue of $189.8 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $205.8 million.

In the final minutes of trading on Wednesday, the company's shares hit $1.79. A year ago, they were trading at $11.28.


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