IRVING, Texas (AP) _ Montage Resources Corporation (MR) on Thursday reported a second-quarter loss of $68.9 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Irving, Texas-based company said it had a loss of $1.92. Losses, adjusted for non-recurring costs and asset impairment costs, were 57 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 78 cents per share.
The independent oil and gas company posted revenue of $90.7 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $102.1 million.
Montage Resources shares have dropped 36% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.10, a climb of 90% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MR at https://www.zacks.com/ap/MR