THE WOODLANDS, Texas (AP) _ Earthstone Energy Inc. (ESTE) on Tuesday reported second-quarter earnings of $8.8 million.
On a per-share basis, the The Woodlands, Texas-based company said it had profit of 30 cents. Earnings, adjusted for one-time items, were 23 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The oil and gas company posted revenue of $44.5 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $42.6 million.
In the final minutes of trading on Tuesday, the company's shares hit $3.58. A year ago, they were trading at $9.73.