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Superior Energy reports 4Q loss

HOUSTON (AP) _ Superior Energy Services Inc. (SPN) on Tuesday reported a loss of $211.2 million in its fourth quarter.

The Houston-based company said it had a loss of $1.40 per share. Losses, adjusted for non-recurring costs and to account for discontinued operations, were 74 cents per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 76 cents per share.

The oilfield services company posted revenue of $354.4 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $333 million.

For the year, the company reported that its loss narrowed to $886.9 million, or $5.85 per share. Revenue was reported as $1.45 billion.

Superior Energy shares have fallen 1.5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $16.62, a rise of 76 percent 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 SPN at https://www.zacks.com/ap/SPN


Keywords: Superior Energy, Earnings Report