LINN Energy (LINE) Tops Q3 EPS Views

LINN Energy (NASDAQ: LINE) reported Q3 adjusted EPS of $0.31, versus the analyst estimate of $0.13. Revenue for the quarter came in at $998 million versus the consensus estimate of $765.14 million.

NOTE: For the third quarter 2015, the Company reported a net loss of approximately $1.6 billion, or $4.47 per unit, which includes non-cash impairment charges of approximately $2.3 billion, or $6.43 per unit, non-cash gains related to changes in fair value of unsettled commodity derivatives of approximately $235 million, or $0.67 per unit, non-cash gains on extinguishment of debt of approximately $198 million, or $0.56 per unit, and gains on sale of assets and other of approximately $167 million, or $0.48 per unit. For the third quarter 2014, the Company reported a net loss of approximately $4 million, or $0.02 per unit, which includes a non-cash impairment charge of approximately $603 million, or $1.83 per unit, and non-cash gains related to changes in fair value of unsettled commodity derivatives of approximately $423 million, or $1.28 per unit. The impairment charges in 2015 were primarily due to lower commodity prices and the Company's estimates of proved reserves. In 2014, the impairment charge was due to the divestiture of certain high valued unproved properties in the Midland Basin.

For earnings history and earnings-related data on LINN Energy (LINE) click here.

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