InterOil Earnings: Here’s Why the Stock is Up Now
InterOil Corporation (NYSE:IOC) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.02%.
InterOil Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.27 in the quarter versus EPS of $-0.66 in the year-earlier quarter.
Revenue: Rose 15.58% to $345.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: InterOil Corporation reported adjusted EPS loss of $0.27 per share. By that measure, the company missed the mean analyst estimate of $-0.07. It beat the average revenue estimate of $261.35 million.
Quoting Management: InterOil CEO Dr. Michael Hession said the Company was at an inflection point in its history and the leadership team intended to deliver on the value that had been built during the past sixteen years. “InterOil is a proud PNG company with great people and excellent assets and remains committed to the further development of PNG”, Dr. Hession said. “We are streamlining the Company to concentrate on our core business activities of oil refining, wholesale and retail petroleum distribution, monetisation of our gas fields and exploration.”
Key Stats (on next page)…