Rex Energy Corp Earnings Cheat Sheet: A Swing to a Loss that Still Beat Expectations

Rex Energy Corporation (NASDAQ:REXX) dropped to a third quarter loss, but results topped expectations. 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.

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

Rex Energy Earnings Cheat Sheet for the Third Quarter

Results: Reported a loss of $8.2 million (18 cents per diluted share) in the quarter. The oil and gas drilling and exploration company had net income of $9.6 million or 22 cents per share in the year earlier quarter.

Revenue: Rose 82.9% to $30.8 million from the year earlier quarter.

Actual vs. Wall St. Expectations: REXX reported adjusted net income of 14 cents per share. By that measure, the company beat the mean estimate of 7 cents per share. Analysts were expecting revenue of $30.7 million.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 53%, with the biggest boost coming in the second quarter when revenue rose 85.8% from the year earlier quarter.

The company has now beaten estimates the last two quarters. In the second quarter, it topped expectations with net income of 8 cents versus a mean estimate of net income of 4 cents per share.

Looking Forward: Expectations for the company’s next quarter performance are higher than they were ninety days ago. Over the past three months, the average estimate for the fourth quarter has risen to 9 cents per share from 6 cents. For the fiscal year, the average estimate has moved up from 16 cents a share to 29 cents over the last ninety days.

Competitors to Watch: Atlas Energy, Inc. (NASDAQ:ATLS), NGAS Resources, Inc. (NASDAQ:NGAS), BreitBurn Energy Partners L.P. (NASDAQ:BBEP), Range Resources Corp. (NYSE:RRC), EV Energy Partners, L.P. (NASDAQ:EVEP), Vanguard Natural Resources, LLC (NYSE:VNR), New Concept Energy, Inc. (AMEX:GBR), Magnum Hunter Resources Corp (NYSE:MHR), Linn Energy, LLC (NASDAQ:LINE), and Approach Resources Inc. (NASDAQ:AREX).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)