SAN ANTONIO (AP) _ Pioneer Energy Services Corp. (PES) on Friday reported a loss of $36.1 million in its fourth quarter.
The San Antonio-based company said it had a loss of 53 cents per share. Losses, adjusted for one-time gains and costs, came to 34 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.
The oil and gas drilling and production company posted revenue of $71.5 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $70.7 million.
For the year, the company reported that its loss narrowed to $128.4 million, or $1.96 per share. Revenue was reported as $277.1 million.
Pioneer Energy shares have fallen 5 percent since the beginning of the year. The stock has increased fivefold in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PES at https://www.zacks.com/ap/PES
Keywords: Pioneer Energy, Earnings Report