EV Energy Partners (EVEP) Posts Q2 EPS of $3.25

EV Energy Partners (NASDAQ: EVEP) reported Q2 EPS of $3.25, which may not compare with the analyst estimate of $0.73. Revenue for the quarter came in at $44.5 million versus the consensus estimate of $70.91 million.

Included in net income were the following items:

• $250.4 million in income from discontinued operations, which includes $246.7 million of gain related to the sale of our interests in Utica East Ohio (UEO);
• $48.3 million of impairment charges related to the write down of certain oil and natural gas properties primarily due to a change in the development plans for acreage in the Utica Shale;
• $41.2 million of non-cash losses on commodity and interest rate derivatives;
• $2.3 million of non-cash costs contained in general and administrative expenses; and
• $0.3 million of dry hole and exploration costs.

For earnings history and earnings-related data on EV Energy Partners (EVEP) click here.

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