HOUSTON — Penn Virginia Corporation (PVAC) on Tuesday reported second-quarter net income of $3 million, after reporting a loss in the same period a year earlier.
The Houston-based company said it had profit of 20 cents per share. Earnings, adjusted for one-time gains and costs, were $1.05 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The company posted revenue of $124.7 million in the period.
Penn Virginia shares have increased 68% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $17.01, a rise of 70% 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 PVAC at https://www.zacks.com/ap/PVAC