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Pioneer Energy reports 3Q loss

SAN ANTONIO (AP) _ Pioneer Energy Services Corp. (PES) on Thursday reported a loss of $17.2 million in its third quarter.

The San Antonio-based company said it had a loss of 22 cents per share. Losses, adjusted for non-recurring costs, came to 15 cents per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.

The oil and gas drilling and production company posted revenue of $117.3 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $115.2 million.

The company's shares closed at $2. A year ago, they were trading at $3.75.


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