EXCO Resources (XCO) Misses Q1 EPS by 5c

EXCO Resources (NYSE: XCO) reported Q1 EPS of ($0.02), $0.05 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $198.5 million versus the consensus estimate of $192.41 million.

Jeff Benjamin, EXCO’s chairman, commented, “We have continued to execute on our strategic objectives including improving our liquidity and maintaining financial flexibility, demonstrating fiscal discipline, efficiently exploiting our current asset base and simplifying our corporate structure. Over the past six months, EXCO has reduced total debt under its credit agreement by approximately $630 million. In addition, the recent $500 million senior unsecured notes offering further enhanced our liquidity and added an eight year term to our capital structure. We are encouraged by the recent improvements in natural gas pricing as well as storage levels and general demand. With our improved balance sheet and continued emphasis on capital discipline, EXCO is well positioned for future growth.”

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

You May Also Be Interested In

• SanDisk upgraded at JPMorgan after investor day; shares climb
• Bernstein SocGen Group Reiterates Outperform Rating on JD.com, Inc (JD), 'very cheaply valued'
• Instil Bio Inc. (TIL) Misses Q2 EPS by 21c