CALGARY, Alberta (AP) — CALGARY, Alberta (AP) — Arc Resources Ltd. (AETUF) on Tuesday reported first-quarter earnings of $426 million.
The Calgary, Alberta-based company said it had profit of 75 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The oil and natural gas company posted revenue of $1.42 billion in the period. Its adjusted revenue was $1.09 billion.
Arc Resources shares have risen 22% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $23.04, a rise of 19% in the last 12 months.
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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 AETUF at https://www.zacks.com/ap/AETUF
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