HOUSTON (AP) — HOUSTON (AP) — Callon Petroleum Co. (CPE) on Wednesday reported fourth-quarter profit of $272.5 million.
The Houston-based company said it had net income of $4.41 per share. Earnings, adjusted for non-recurring gains, came to $3.36 per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.44 per share.
The independent oil and gas company posted revenue of $704.2 million in the period, surpassing Street forecasts. Seven analysts surveyed by Zacks expected $617.4 million.
For the year, the company reported profit of $1.21 billion, or $19.54 per share. Revenue was reported as $3.23 billion.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPE at https://www.zacks.com/ap/CPE
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