HOUSTON (AP) _ Superior Energy Services Inc. (SPNV) on Tuesday reported a loss of $38.4 million in its third quarter.
The Houston-based company said it had a loss of 25 cents per share. Losses, adjusted for non-recurring costs, came to 22 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.
The oilfield services company posted revenue of $425.7 million in the period, surpassing Street forecasts. Six analysts surveyed by Zacks expected $413 million.
In the final minutes of trading on Tuesday, the company's shares hit 47 cents. A year ago, they were trading at $8.27.