THE WOODLANDS, Texas (AP) _ Earthstone Energy Inc. (ESTE) on Wednesday reported a fourth-quarter loss of $2.6 million, after reporting a profit in the same period a year earlier.
The The Woodlands, Texas-based company said it had a loss of 9 cents per share. Earnings, adjusted for non-recurring costs, came to 28 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.
The oil and gas company posted revenue of $66.8 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $65.2 million.
For the year, the company reported profit of $719,000, or 2 cents per share. Revenue was reported as $191.3 million.
In the final minutes of trading on Wednesday, the company's shares hit $2.36. A year ago, they were trading at $6.42.