MIDLAND, Texas (AP) _ ProPetro Holding Corp. (PUMP) on Monday reported a first-quarter loss of $7.8 million, after reporting a profit in the same period a year earlier.
The Midland, Texas-based company said it had a loss of 8 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 21 cents per share.
The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The oilfield services company posted revenue of $395.1 million in the period, missing Street forecasts. Eighteen analysts surveyed by Zacks expected $403.9 million.
In the final minutes of trading on Monday, the company’s shares hit $4.99. A year ago, they were trading at $19.67.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PUMP at https://www.zacks.com/ap/PUMP
The Associated Press