IRVING, Texas — Montage Resources Corporation (MR) on Thursday reported third-quarter profit of $4.3 million.
The Irving, Texas-based company said it had profit of 12 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 54 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The independent oil and gas company posted revenue of $163.3 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $159.9 million.
In the final minutes of trading on Thursday, the company’s shares hit $3.65. A year ago, they were trading at $19.34.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MR at https://www.zacks.com/ap/MR