EXCO Resources (XCO) Misses Q4 EPS by 1c, to Cut Workforce by 15%

EXCO Resources (NYSE: XCO) reported Q4 EPS of ($0.02), $0.01 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $127.8 million versus the consensus estimate of $138.89 million.

"We were proactive in amending our credit agreement to provide us with the liquidity and financial flexibility to persevere through the current market conditions. In order to maximize our cash flows in this commodity price environment, we have negotiated reductions in operating and capital costs and will continue to pursue further reductions. Also, we have implemented initiatives to reduce our general and administrative costs including a 15% reduction in our workforce during 2015. Our deep inventory of high-quality drilling opportunities will provide a platform for significant growth when prices recover. We also plan to be opportunistic as we evaluate acquisitions that meet our strategic and financial objectives."

Our actual capital expenditures for the fourth quarter 2014 and full year 2014, and 2015 capital budget are presented in the following table.

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

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