Gulfport Energy: 1Q Earnings Snapshot
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May 8, 2020
OKLAHOMA CITY (AP) _ Gulfport Energy Corp. (GPOR) on Thursday reported a first-quarter loss of $517.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Oklahoma City-based company said it had a loss of $3.24. Earnings, adjusted for one-time gains and costs, came to 10 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The independent oil and gas company posted revenue of $246.9 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $220.4 million.
In the final minutes of trading on Thursday, the company's shares hit $2.11. A year ago, they were trading at $7.26.
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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 GPOR at https://www.zacks.com/ap/GPOR
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