U.S. Markets open in 8 hrs 55 mins

Free Post Earnings Research Report: Approach Resources Reported Q4 and Full Year FY17 Results

LONDON, UK / ACCESSWIRE / April 19, 2018 / Active-Investors.com has just released a free earnings report on Approach Resources, Inc. (NASDAQ: AREX). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AREX. The Company posted its financial results on March 08, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company's oil, natural liquids (NGLs), and gas sales increased y-o-y during the reported quarter, but missed Wall Street's estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Approach Resources most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Earnings Highlights and Summary

During Q4 FY17, Approach Resources' oil, NGLs, and gas sales came in at $28.42 million, which were 11% higher than the $26.51 million recorded at the end of Q4 FY16. The Company's Oil, NGLs, and gas sales numbers for the reported quarter fell short of market consensus estimates of $28.7 million.

The oil and gas Company reported a net income of $45.82 million, or $0.51 per diluted share, in Q4 FY17 compared to a net loss of $13.48 million, or $0.32 loss per diluted share, in Q4 FY16. The Company's adjusted net loss narrowed to $6.07 million, or $0.07 loss per diluted share, in Q4 FY17 from an adjusted net loss of $9.73 million, or $0.23 loss per diluted share, in the prior year's same quarter. Market analysts had also forecasted the Company to report an adjusted net loss of $0.07 per diluted share in Q4 FY17.

For the full year FY17, Approach Resources' revenues stood at $105.35 million compared to $90.30 million in FY16. The Company's net loss was $112.36 million, or $1.35 loss per diluted share, in FY17 versus a net loss of $52.24 million, or $1.26 loss per diluted share, in FY16. Furthermore, the Company reported an adjusted net loss of $29.81 million, or $0.36 loss per diluted share, in FY17 compared to $42.50 million, or $1.02 loss per diluted share, in FY16.

Operating Metrics

The Fort Worth, Texas-based Company's total expenses decreased to $29.37 million during Q4 FY17 from $33.56 million in the past year's comparable quarter. The Company posted an operating loss of $0.95 million during Q4 FY17 compared to an operating loss of $7.06 million in Q4 FY16. Furthermore, the Company's earnings before interest, taxes, depreciation, depletion, amortization, and exploration expenses (EBITDAX) stood at $13.89 million in Q4 FY17 compared to $15.47 million in Q4 FY16.

For Q4 FY17, Approach Resources' oil production volume fell to 270 thousand barrels (MBbls) from 304 MBbls in Q4 FY16. The oil average realized price was $52.09 per bbl during the reported quarter, up from $46.02 per bbl in the previous year's corresponding quarter.

The Company's quarterly production volume of NGLs totaled 377 MBbls in Q4 FY17, which was lower than 380 MBbls in the prior year's same quarter. The Company's average NGLs realized price was $22.61 per bbl in Q4 FY17 compared to $15.25 per bbl in Q4 FY16.

Approach Resources' gas production volume also increased to 2,498 million cubic feet per day (MMcf/d) during Q4 FY17 from 2,530 MMcf/d in Q4 FY16. Furthermore, the Company's gas average realized was $2.32 per Mcf in Q4 FY17 compared to $2.65 per Mcf in Q4 FY16.

Approach Resources' total production was 1,064 thousand barrels of oil equivalent per day (MBOE/d) during the reported quarter compared to 1,106 MBOE in Q4 FY16. Meanwhile, the Company's total daily production was 11.6 MBOE/d during Q4 FY17 versus 12.0 MBOE/d in Q4 FY16.

Cash Matters and Balance Sheet

For the full fiscal year ended December 31, 2017, Approach Resources generated net cash provided by operating activities of $37.45 million compared to $26.08 million in the prior year. Moreover, the Company's net capital expenditure totaled $47.1 million incurred during FY17.

The Company's cash and cash equivalents balance stood flat at $0.02 million as on December 31, 2017. Furthermore, the Company's net long-term debt was down to $373.46 million as on December 31, 2017, from $498.35 million as on December 31, 2016.

Stock Performance Snapshot

April 18, 2018 - At Wednesday's closing bell, Approach Resources' stock climbed 3.68%, ending the trading session at $2.82.

Volume traded for the day: 1.92 million shares, which was above the 3-month average volume of 498.90 thousand shares.

Stock performance in the last month – up 10.59%; previous six-month period – up 21.03%; and past twelve-month period – up 24.23%

After yesterday's close, Approach Resources' market cap was at $261.39 million.

The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry. This sector was up 1.8% at the end of the session.


Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.


The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.


A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.


This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.


For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors