OKLAHOMA CITY (AP) _ Gulfport Energy Corp. (GPOR) on Thursday reported a fourth-quarter loss of $1.81 billion, after reporting a profit in the same period a year earlier.
The Oklahoma City-based company said it had a loss of $11.36 per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 5 cents per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The independent oil and gas company posted revenue of $281.3 million in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $315.8 million.
For the year, the company reported a loss of $2 billion, or $12.49 per share, swinging to a loss in the period. Revenue was reported as $1.35 billion.
In the final minutes of trading on Thursday, the company's shares hit 90 cents. A year ago, they were trading at $7.76.