Petrohawk Energy Earnings: Here’s Why Investors are Excited Now
Petrohawk Energy Corporation (NYSE:HK) delivered a profit and met 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 up 2.23%.
Petrohawk Energy Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 50% to $0.02 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Rose 902.41% to $124.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Petrohawk Energy Corporation reported adjusted EPS income of $0.02 per share. By that measure, the company met the mean analyst estimate of $0.02. It beat the average revenue estimate of $115.71 million.
Quoting Management: Floyd C. Wilson, Chairman and Chief Executive Officer, stated, “Halcon has been public for about a year now and we have built an oil company with core assets in some of the most prolific established and emerging unconventional resource plays in the lower 48. Our balance sheet is healthy and we are well positioned to execute on our business plan. We are in the early innings of implementing efficiencies and performance enhancements in our core areas with a focus on growing production, reserves and cash flow.”
Key Stats (on next page)…