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RSP Permian beats 4Q profit forecasts

DALLAS (AP) _ RSP Permian Inc. (RSPP) on Monday reported fourth-quarter net income of $1.4 million, after reporting a loss in the same period a year earlier.

The Dallas-based company said it had net income of 1 cent per share. Earnings, adjusted for non-recurring costs, came to 10 cents per share.

The results beat Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The independent oil and gas company posted revenue of $122.9 million in the period, missing Street forecasts. Nine analysts surveyed by Zacks expected $123.4 million.

For the year, the company reported that its loss widened to $24.9 million, or 23 cents per share. Revenue was reported as $353.9 million.

RSP Permian shares have fallen 8 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $40.97, a climb of 80 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 RSPP at https://www.zacks.com/ap/RSPP

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Keywords: RSP Permian, Earnings Report