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PDC Energy: 1Q Earnings Snapshot

DENVER (AP) _ PDC Energy Inc. (PDCE) on Wednesday reported a loss of $120.2 million in its first quarter.

The Denver-based company said it had a loss of $1.82 per share. Earnings, adjusted for non-recurring costs, were 27 cents per share.

The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.

The independent oil and gas company posted revenue of $134.5 million in the period, which also missed Street forecasts. Ten analysts surveyed by Zacks expected $329.2 million.

PDC Energy shares have risen 40% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $41.69, a decline of 23% in the last 12 months.


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