DENVER (AP) _ SRC Energy Inc. (SRCI) on Wednesday reported first-quarter profit of $49.8 million.
On a per-share basis, the Denver-based company said it had profit of 20 cents. Earnings, adjusted for non-recurring costs, came to 27 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The oil and gas company posted revenue of $189.5 million in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $178.2 million.
SRC Energy shares have climbed 27% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.95, a decline of 46% 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 SRCI at https://www.zacks.com/ap/SRCI