Penn Virginia Resource Partners LP (NYSE:PVR) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 5%.
Penn Virginia Resource Partners LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.30 in the quarter versus EPS of $0.24 in the year-earlier quarter.
Revenue: Decreased 6.31% to $269.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Penn Virginia Resource Partners LP reported adjusted EPS loss of $0.30 per share. By that measure, the company missed the mean analyst estimate of $0.17. It missed the average revenue estimate of $280.19 million.
Quoting Management: “Our Eastern Midstream Segment continued to demonstrate solid growth during the fourth quarter,” said Bill Shea, President and CEO of PVR’s general partner. “The volume gains and operating results of our Eastern Midstream Segment benefited from the start of service of the Wyoming County trunkline at the beginning of the quarter, and the continuing build-out of our other projects in the Marcellus.”
Key Stats (on next page)…