InterOil Earnings: Here’s Why Shares are Down Now
InterOil Corporation (NYSE:IOC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 3.56%.
InterOil Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 57.89% to $0.08 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Rose 3.59% to $350.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: InterOil Corporation reported adjusted EPS income of $0.08 per share. By that measure, the company beat the mean analyst estimate of $-0.12. It beat the average revenue estimate of $331.46 million.
Quoting Management: InterOil’s Chairman and Interim CEO Dr. Gaylen Byker commented, “InterOil management and the Board are firmly committed to all of our stakeholders. My mandate as Chairman is to drive the LNG partner selection process to conclusion while maximizing value for all. We believe that our partnering process puts us in an advantageous position. We all look forward to working with a qualified LNG partner, in a fashion that balances the interests of all stakeholders and satisfies the objectives of the PNG government. We are excited to be at the final stage in this process.”
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