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Basic Energy reports 1Q loss

FORT WORTH, Texas (AP) _ Basic Energy Services Inc. (BAS) on Thursday reported a loss of $38.6 million in its first quarter.

On a per-share basis, the Fort Worth, Texas-based company said it had a loss of $1.49. Losses, adjusted for pretax expenses and restructuring costs, came to 87 cents per share.

The results did not meet Wall Street expectations. The average estimate of four 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 $182 million in the period.

Basic Energy shares have declined 13 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $30.68, a decrease of 98 percent in the last 12 months.


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


Keywords: Basic Energy Services, Earnings Report