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Laredo Petroleum: 3Q Earnings Snapshot

·1 min read

TULSA, Okla. (AP) _ Laredo Petroleum Inc. (LPI) on Wednesday reported a loss of $237.4 million in its third quarter.

On a per-share basis, the Tulsa, Oklahoma-based company said it had a loss of $20.32. Earnings, adjusted for one-time gains and costs, came to $4.02 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.32 per share.

The oil and natural gas company posted revenue of $173.5 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $176.6 million.

Laredo Petroleum shares have declined 85% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.48, a fall of 84% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LPI at https://www.zacks.com/ap/LPI