Penn Virginia Resource Partners LP Earnings:Here’s Why Investors are Excited Now
Penn Virginia Resource Partners LP (NYSE:PVR) had a loss 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 up 6.78%.
Penn Virginia Resource Partners LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.17 in the quarter versus EPS of $0.20 in the year-earlier quarter.
Revenue: Rose 6.89% to $263.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Penn Virginia Resource Partners LP reported adjusted EPS loss of $0.17 per share. By that measure, the company missed the mean analyst estimate of $0.05. It missed the average revenue estimate of $294.96 million.
Quoting Management: “We were pleased with our overall results for the first quarter, particularly with the continuing growth of our Eastern midstream business. Our Eastern Midstream Segment results reflected the impact of our acquisition of Chief Gathering and the continuing build-out of our growth projects in the Marcellus,” said Bill Shea, President and CEO of PVR’s general partner.
Key Stats (on next page)…