QEP Resources (QEP) Misses Q4 EPS by 2c

QEP Resources (NYSE: QEP) reported Q4 EPS of $0.22, $0.02 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $799.6 million versus the consensus estimate of $848.37 million.

"Record fourth quarter operating results demonstrate our successful transformation into a more focused, independent exploration and production company," commented Chuck Stanley, Chairman, President and CEO of QEP Resources. "Our high quality E&P asset portfolio, combined with year-end 2014 net debt of approximately $1.1 billion and an undrawn $1.8 billion revolving credit facility positions us well in the current commodity price environment. While we have ample liquidity, given current commodity price uncertainty, we are substantially reducing our forecasted 2015 capital expenditures by greater than 40% compared with 2014 as we focus on driving down completed well costs and improving operating efficiency across the company," concluded Stanley.

For earnings history and earnings-related data on QEP Resources (QEP) click here.

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