Laredo Petroleum: 3Q Earnings Snapshot

TULSA, Okla. (AP) _ Laredo Petroleum Inc. (LPI) on Monday reported third-quarter profit of $55.1 million.

The Tulsa, Oklahoma-based company said it had profit of 24 cents per share. Earnings, adjusted for non-recurring costs, came to 27 cents per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The oil and natural gas company posted revenue of $279.7 million in the period, exceeding Street forecasts. Six analysts surveyed by Zacks expected $257.3 million.

Laredo Petroleum shares have dropped 49 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $5.46, a decrease of 48 percent 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