HOUSTON (AP) — HOUSTON (AP) — Crescent Energy Company (CRGY) on Wednesday reported a loss of $118 million in its fourth quarter.
On a per-share basis, the Houston-based company said it had a loss of 70 cents. Earnings, adjusted for one-time gains and costs, came to 56 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The oil and gas company posted revenue of $875.3 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $890.9 million.
For the year, the company reported a loss of $114.6 million, or 88 cents per share. Revenue was reported as $2.93 billion.
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