Parsley Energy: 3Q Earnings Snapshot
AUSTIN, Texas (AP) _ Parsley Energy Inc. (PE) on Thursday reported third-quarter net income of $113.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Austin, Texas-based company said it had profit of 41 cents. Earnings, adjusted for non-recurring costs, came to 45 cents per share.
The results topped Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The independent oil and gas company posted revenue of $511 million in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $491.2 million.
Parsley Energy shares have dropped 18 percent since the beginning of the year.