CENTENNIAL RESOURCE

CDEV
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Centennial Resource: 4Q Earnings Snapshot

02/23/2021 | 05:56pm

DENVER (AP) _ Centennial Resource Development, Inc. (CDEV) on Tuesday reported a fourth-quarter loss of $88.7 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Denver-based company said it had a loss of 32 cents. Losses, adjusted for asset impairment costs, came to 17 cents per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.

The company posted revenue of $148.1 million in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $141.4 million.

In the final minutes of trading on Tuesday, the company's shares hit $3.87. A year ago, they were trading at $2.67.

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

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News

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