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Tuesday, May 24, 2022

Stone Energy reports 4Q loss

LAFAYETTE, La. (AP) _ Stone Energy Corp. (SGY) on Monday reported a loss of $ 318.7 million in its fourth quarter.

The Lafayette, Louisiana-based company said it had a loss of $ 5.76 per share. Earnings, adjusted for non-recurring costs, were 4 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

The independent oil and gas company posted revenue of $ 110.5 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $ 107.8 million.

For the year, the company reported that its loss widened to $ 1.09 billion, or $ 19.75 per share. Revenue was reported as $ 544.6 million.

In the final minutes of trading on Monday, the company’s shares hit $ 1.85. A year ago, they were trading at $ 17.85.

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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 SGY at http://www.zacks.com/ap/SGY

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Keywords: Stone Energy, Earnings Report

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