* Q1 adj EPS $0.13 vs est $0.13
* Q1 rev up 67 pct, beats Street
* Sees Q2 production of 610-620 mmcfe/d
May 5 (BestGrowthStock) – Independent oil and gas company Petrohawk
Energy Corp (HK.N: ) reported a first-quarter profit (Read more your timing to make a profit.) that came in
line with analysts’ estimates, helped by higher production.
Petrohawk reported quarterly production of about 625 million
cubic feet of natural gas equivalent per day (Mmcfe/d), a 5
percent rise over last year, and gave second-quarter production
outlook of 610 and 620 Mmcfe/d.
For the latest first quarter, net income was $156.1
million, or 52 cents a share, compared with a loss of $999.8
million, or $3.87 a share, last year.
Excluding items, the company reported an adjusted profit of
13 cents a share.
Total operating revenues for the quarter rose 67 percent to
$440.3 million.
Analysts on average expected the company to post earnings
of 13 cents a share, excluding items, on revenue of $395.2
million, according to Thomson Reuters I/B/E/S.
Shares of the company closed at $21.60 Tuesday on the New
York Stock Exchange.
Stock Trading
(Reporting by Thyagaraju Adinarayan in Bangalore; Editing by
Ratul Ray Chaudhuri)
UPDATE 1-Petrohawk posts in-line Q1 profit
