OKLAHOMA CITY (AP) — Roan Resources Inc. (ROAN) on Tuesday reported a loss of $58.1 million in its first quarter.
On a per-share basis, the Oklahoma City-based company said it had a loss of 38 cents. Earnings, adjusted for non-recurring costs, came to 10 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The oil and natural gas company posted revenue of $14.9 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $114.7 million.
Roan Resources shares have decreased 38% since the beginning of the year.