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Matador: 3Q Earnings Snapshot

·1 min read

DALLAS (AP) _ Matador Resources Co. (MTDR) on Tuesday reported a third-quarter loss of $276.8 million, after reporting a profit in the same period a year earlier.

The Dallas-based company said it had a loss of $2.38 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, came to 10 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.

The independent oil and gas company posted revenue of $203.4 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $189.7 million.

Matador shares have dropped 55% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $8.16, a decline of 42% 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 MTDR at https://www.zacks.com/ap/MTDR