QEP Resources Swings to Profit in Q3
Although the market doesn't seem impressed by the feats, QEP Resources managed to grow the top line considerably while swinging to a profit in its Q3. For the period, the company's total revenues were $773 million, considerably more than the $542 million in the same period the previous year. The attributable bottom line was in the black at $37.3 million ($0.21 per diluted share), against a Q3 2012 loss of $3.1 million ($0.02).
Much of the quarter's gains came from the energy division, which increased its crude oil production by 83% on a year-over-year basis.
Analysts, however, had been expecting better. On average, their projections anticipated revenue of $850 million and EPS of $0.40.
At the moment, the company's stock is trading down by 3%, or $0.99, to $32.28.
The article QEP Resources Swings to Profit in Q3 originally appeared on Fool.com.Fool contributor Eric Volkman has no position in QEP Resouces. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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