GO
Loading...

Anadarko Reports Loss, but Not as Deep as Forecasts

Anadarko Petroleum Monday reported a second quarter net loss compared with a year-ago net profit as the independent oil and gas company's results were hurt by steep declines in energy prices.

The net loss was $226 million, or 48 cents per share, compared with a profit of $23 million or 5 cents per share in the same quarter a year ago.

Excluding items, the Houston company had a loss of $263 million, or 56 cents per share, compared with a year-ago profit of $831 million, or $1.76 per share.

Wall Street analysts on average had expected a loss of 67 cents per share, according to Reuters Estimates.

Second-quarter sales volumes of natural gas, crude oil and natural gas liquids totaled 56 million barrels oil equivalent per day, up from 54 million BOE in the prior quarter.

Shares of Anadarko traded above $49 post-market, which was even with the New York Stock Exchange close.

  • Click Here for real-time Anadarko stock quotes

Contact Earnings Central

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More