HOUSTON (AP) — HOUSTON (AP) — Crescent Energy Company (CRGY) on Wednesday reported a loss of $8.7 million in its fourth quarter.
The Houston-based company said it had a loss of 3 cents per share. Earnings, adjusted for one-time gains and costs, were 49 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The oil and gas company posted revenue of $865 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $899.9 million.
For the year, the company reported profit of $132.9 million, or 54 cents per share. Revenue was reported as $3.58 billion.
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