Rex Energy Corporation’s (NASDAQ:REXX) fourth quarter loss narrowed due mainly to positive revenue growth. Rex Energy is an independent energy company that is engaged in the acquisition, production, exploration and development of oil and gas, with properties primarily in the Appalachian and Illinois regions.
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Rex Energy Earnings Cheat Sheet for the Fourth Quarter
Results: Loss narrowed to $3.1 million (loss of 7 cents per diluted share) from $6.5 million (loss of 15 cents per share) in the same quarter a year earlier.
Revenue: Rose 62.8% to $31.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rex Energy Corporation fell short of the mean analyst estimate of 7 cents per share. It fell short of the average revenue estimate of $32.8 million.
The company has seen double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 59.8%, with the biggest boost coming in the second quarter when revenue rose 85.8% from the year earlier quarter.
After beating analyst estimates for the two previous quarters, the company fell short of forecasts. In the third quarter, it topped the mark by 7 cents, and in the second quarter, it was ahead by 4 cents.
Looking Forward: The average estimate for the first quarter of the next fiscal year remains unchanged at 10 cents a share. For the fiscal year, the average estimate has moved up from 35 cents a share to 36 cents over the last sixty days.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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