Quicksilver Resources Inc and Louisiana-Pacific Corp Shares Sparking Trading Interest After Earnings
Quicksilver Resources Inc. (NYSE:KWK) reported its results for the third quarter. Net income for Quicksilver Resources Inc. rose to $28.7 million (17 cents per share) vs. $21.8 million (13 cents per share) in the same quarter a year earlier. This marks a rise of 31.6% from the year earlier quarter. Revenue rose 9.3% to $259.9 million from the year earlier quarter. KWK reported adjusted net income of 3 cents per share. By that measure, the company fell short of mean estimate of 5 cents per share. It beat the average revenue estimate of $222.4 million.
“Our goals for Quicksilver remain: to increase production in our core projects, continue to knock down unit operating costs, establish new oil and gas production areas, and significantly improve the company’s balance sheet. I can say that we are moving forward on all fronts,” said Glenn Darden, Quicksilver’s President and CEO.
Competitors to Watch: Chesapeake Energy Corp. (NYSE:CHK), ConocoPhillips (NYSE:COP), Marathon Oil Corporation (NYSE:MRO), Cimarex Energy Co. (NYSE:XEC), Petrohawk Energy Corp. (NYSE:HK), Southwestern Energy Co. (NYSE:SWN), Tengasco, Inc. (AMEX:TGC), CREDO Petroleum Corp. (NASDAQ:CRED), Linn Energy, LLC (NASDAQ:LINE), and SM Energy Co. (NYSE:SM).
Louisiana-Pacific Corporation (NYSE:LPX) reported its results for the third quarter. Loss widened to $65.6 million (49 cents per diluted share) from $32 million (loss of 24 cents per share) in the same quarter a year earlier. Revenue rose 8.7% to $350.6 million from the year earlier quarter. LPX reported an adjusted net loss of 19 cents per share. By that measure, the company fell short of the mean analyst estimate of a loss of 18 cents per share. Analysts were expecting revenue of $344.7 million.
“The building products market moved ahead at a slow place in the third quarter,” said Rick Frost, Chief Executive Officer. “Housing activity remains at low levels, consumer confidence has been negatively affected by the political situation in Washington and job recovery remains muted. LP was agile in our response to the market conditions and ended the quarter with slightly higher cash balances than at the end of June.”