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.