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Pioneer Energy: 1Q Earnings Snapshot

SAN ANTONIO (AP) _ Pioneer Energy Services Corp. (PES) on Wednesday reported a loss of $11.1 million in its first quarter.

The San Antonio-based company said it had a loss of 14 cents per share. Losses, adjusted for non-recurring costs, came to 9 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.

The oil and gas drilling and production company posted revenue of $144.5 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $136 million.

The company's shares closed at $3.45. A year ago, they were trading at $3.


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