EXCO Resources Earnings: Here’s Why the Stock is Rising Now
EXCO Resources Inc. (NYSE:XCO) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.52%.
EXCO Resources Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 333.33% to $0.13 in the quarter versus EPS of $0.03 in the year-earlier quarter.
Revenue: Rose 2.48% to $138.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: EXCO Resources Inc. reported adjusted EPS income of $0.13 per share. By that measure, the company beat the mean analyst estimate of $0.08. It missed the average revenue estimate of $147.03 million.
Quoting Management: Douglas H. Miller, EXCO’s Chief Executive Officer, commented, “We are pleased with the positive financial results achieved in the first quarter through a continued focus on reducing expenses. Our operations team also continues to make drilling cost reductions in the Haynesville and Marcellus, and we are encouraged by the recent increase in natural gas prices.”
Key Stats (on next page)…