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Concho Resources reports 4Q loss

MIDLAND, Texas (AP) _ Concho Resources Inc. (CXO) on Tuesday reported a fourth-quarter loss of $125.1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Midland, Texas-based company said it had a loss of 86 cents. Earnings, adjusted for one-time gains and costs, were 20 cents per share.

The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.

The independent oil and gas company posted revenue of $524.6 million in the period, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $550.5 million.

For the year, the company reported a loss of $1.46 billion, or $10.85 per share, swinging to a loss in the period. Revenue was reported as $1.63 billion.

Concho Resources shares have risen almost 7 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $141.35, a climb of 50 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 CXO at https://www.zacks.com/ap/CXO


Keywords: Concho Resources, Earnings Report