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Centennial Resource: 4Q Earnings Snapshot

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DENVER (AP) _ Centennial Resource Development, Inc. (CDEV) on Tuesday reported a fourth-quarter loss of $88.7 million, after reporting a profit in the same period a year earlier.

The Denver-based company said it had a loss of 32 cents per share. Losses, adjusted for asset impairment costs, were 17 cents per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.

The company posted revenue of $148.1 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $141.4 million.

For the year, the company reported a loss of $682.8 million, or $2.46 per share, swinging to a loss in the period. Revenue was reported as $580.5 million.

The company's shares closed at $3.87. A year ago, they were trading at $2.67.

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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 CDEV at https://www.zacks.com/ap/CDEV