Penn Virginia: Q4 Earnings Snapshot

HOUSTON (AP) _ Penn Virginia Corporation (PVAC) on Monday reported a fourth-quarter loss of $135.5 million, after reporting a profit in the same period a year earlier.

The Houston-based company said it had a loss of $8.92 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were $1.43 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.

The company posted revenue of $67 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $73.9 million.

For the year, the company reported a loss of $310.6 million, or $20.46 per share, swinging to a loss in the period. Revenue was reported as $273.3 million.

Penn Virginia shares have climbed 79% since the beginning of the year. In the final minutes of trading on Monday, shares hit $18.19, a rise of 67% in the last 12 months.

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

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