Gastar Exploration (AMEX:GST) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 8.68%.
Gastar Exploration Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.05 in the quarter versus EPS of $-0.06 in the year-earlier quarter.
Revenue: Rose 122.2% to $30.93 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Gastar Exploration reported adjusted EPS income of $0.05 per share. By that measure, the company missed the mean analyst estimate of $0.09. It beat the average revenue estimate of $24.62 million.
Quoting Management: J. Russell Porter, Gastar’s President and CEO, stated, “We are pleased with our accomplishments to date in 2013. Through a series of recent transactions, we have greatly enhanced our acreage position in Oklahoma at a very low cost basis, further increased the liquids content of our reserves and production as well as substantially bolstering our financial liquidity to support our future growth.”
Key Stats (on next page)…