Rosetta Resources, Inc. (NASDAQ:ROSE) 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 1.9%.
Rosetta Resources, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 51.72% to $0.88 in the quarter versus EPS of $0.58 in the year-earlier quarter.
Revenue: Rose 19.46% to $236.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rosetta Resources, Inc. reported adjusted EPS income of $0.88 per share. By that measure, the company missed the mean analyst estimate of $0.97. It beat the average revenue estimate of $217.29 million.
Quoting Management: “Rosetta’s results in the second quarter exhibit our ongoing success in developing our portfolio of unconventional resource assets. Successful execution of our business and operational plan is one of our key strategic focus areas and we continue to deliver on that long-term charge,” said Jim Craddock, Rosetta’s Chairman, CEO and President. “On July 31st, we assumed full operations of our recently acquired Permian Basin position and the current quarter includes results since the transaction close date on May 14th. Rosetta has core asset positions in two of the premier unconventional resource basins in the U.S. which will allow us to further expand our project inventory and efficiently execute our development plans to generate favorable growth and returns in 2013 and beyond.”
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