Callon: Q4 Earnings Snapshot

Associated Press Finance
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HOUSTON (AP) — HOUSTON (AP) — Callon Petroleum Co. (CPE) on Monday reported fourth-quarter net income of $169 million.

On a per-share basis, the Houston-based company said it had net income of $2.51. Earnings, adjusted for one-time gains and costs, were $1.62 per share.

The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share.

The independent oil and gas company posted revenue of $601.4 million in the period, surpassing Street forecasts. Seven analysts surveyed by Zacks expected $563.3 million.

For the year, the company reported profit of $401.2 million, or $6.19 per share. Revenue was reported as $2.34 billion.

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

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