Rice Energy 3Q results miss Street estimates
CANONSBURG – Rice Energy Inc. on Wednesday reported third-quarter profit of $74.4 million.
On a per-share basis, the Southpointe-based company said it had net income of 41 cents. Earnings, adjusted for non-recurring gains, were less than 1 cent on a per-share basis.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The independent oil and gas company, which reported following the close of Wednesday stock market, posted revenue of $198.9 million in the period, also falling short of Street forecasts. Eight analysts surveyed by Zacks expected $211.2 million.
Rice Energy shares have risen 99 percent since the beginning of the year.