Laredo Petroleum: 4Q Earnings Snapshot

·1 min read

TULSA, Okla. (AP) _ Laredo Petroleum Inc. (LPI) on Monday reported a loss of $165.9 million in its fourth quarter.

The Tulsa, Oklahoma-based company said it had a loss of $14.18 per share. Earnings, adjusted for one-time gains and costs, came to $3.23 per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.32 per share.

The oil and natural gas company posted revenue of $188.1 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $183.3 million.

For the year, the company reported that its loss widened to $874.2 million, or $74.92 per share. Revenue was reported as $677.2 million.

Laredo Petroleum shares have climbed 84% since the beginning of the year. In the final minutes of trading on Monday, shares hit $36.29, a climb of 19% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LPI at https://www.zacks.com/ap/LPI