Rex Energy Corp Earnings: Revenue Strengthens for Fifth Straight Quarter by Double Digits
Rex Energy Corporation (NASDAQ:REXX) reported its results for the first quarter. 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.
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Rex Energy Earnings Cheat Sheet for the First Quarter
Results: Loss widened to $1.63 billion (3 cents per diluted share) from $7.5 million (loss of 17 cents per share) in the same quarter a year earlier.
Revenue: Rose 46.1% to $33.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rex Energy Corporation fell short of the mean analyst estimate of 7 cents per share. It fell short of the average revenue estimate of $35.3 million.
The company fell short of forecasts after beating estimates in the previous two quarters. In the fourth quarter of the last fiscal year, it topped the mark by 7 cents, and in the third quarter of the last fiscal year, it was ahead by 7 cents.
Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the second quarter is 6 cents per share, down from 10 cents ninety days ago. At 30 cents per share, the average estimate for the fiscal year has fallen from 42 cents ninety days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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