DENVER (AP) _ Liberty Oilfield Services Inc. (LBRT) on Tuesday reported a third-quarter loss of $34.5 million, after reporting a profit in the same period a year earlier.
The Denver-based company said it had a loss of 41 cents per share. Losses, adjusted for costs related to mergers and acquisitions and severance costs, came to 39 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 42 cents per share.
The provider of hydraulic fracturing services posted revenue of $147.5 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $127.9 million.
Liberty Oilfield Services shares have dropped 30% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.80, a drop of 16% 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 LBRT at https://www.zacks.com/ap/LBRT
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