Mid-Con Energy Partners Earnings: Here’s Why Investors Don’t Like These Results
Mid-Con Energy Partners, LP (NASDAQ:MCEP) delivered a profit and missed Wall Street’s expectations, AND 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 down 0.22%.
Mid-Con Energy Partners, LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 111.76% to $0.36 in the quarter versus EPS of $0.17 in the year-earlier quarter.
Revenue: Rose 262.96% to $16.95 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.36 per share. By that measure, the company missed the mean analyst estimate of $0.47. It missed the average revenue estimate of $17.63 million.
Quoting Management: Craig George, Executive Chairman of the Board, commented, “We believe that our performance during the fourth quarter of 2012 was a positive capstone to a busy and successful first year as an MLP. During our initial public offering in December 2011, we conveyed our goals and expectations for 2012; and we are pleased that we not only delivered on these expectations, but in many ways exceeded what we set out to accomplish. We consider these results a solid foundation for favorable ongoing returns for our unitholders.”
Key Stats (on next page)…