Denbury Resources Earnings: Below Street Expectations

S&P 500 (NYSE:SPY) component Denbury Resources Inc. (NYSE:DNR) reported its results for the third quarter. Denbury Resources is an independent oil and gas company that acquires and develops oil and natural gas properties in the United States Gulf Coast region.

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Denbury Resources Inc. Earnings Cheat Sheet

Results: Net income for Denbury Resources Inc. fell to $85.4 million (22 cents per share) vs. $275.7 million (68 cents per share) a year earlier. This is a decline of 69% from the year-earlier quarter.

Revenue: Rose 4.1% to $600.4 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Denbury Resources Inc. fell short of the mean analyst estimate of 33 cents per share. It fell short of the average revenue estimate of $621 million.

Key Stats:

After beating analyst estimates for the two previous quarters, the company fell short of forecasts. In the second quarter, it topped the mark by 2 cents, and in the first quarter, it was ahead by 3 cents.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the fourth quarter has moved up from 31 cents a share to 34 cents over the last sixty days. For the fiscal year, the average estimate has moved up from $1.37 a share to $1.43 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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