RSP Permian meets 3Q profit forecasts

DALLAS (AP) _ RSP Permian Inc. (RSPP) on Monday reported third-quarter profit of $21.3 million.

On a per-share basis, the Dallas-based company said it had net income of 14 cents. Earnings, adjusted for non-recurring costs, were 18 cents per share.

The results met Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was also for earnings of 18 cents per share.

The independent oil and gas company posted revenue of $201.7 million in the period, falling short of Street forecasts. Eleven analysts surveyed by Zacks expected $203.3 million.

RSP Permian shares have dropped 18 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $36.40, a drop of 2 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RSPP at https://www.zacks.com/ap/RSPP