Synergy Resources Corp. (SYRG), Wednesday, surged to a profit for the second quarter compared to a loss last year, as revenues soared 206 percent. The company attributed the significant growth to increased production from its new wells and a provision for income tax benefit.
The Platteville, Colorado-based company reported a second-quarter net profit of $6.12 million, compared to a net loss of $11.74 million last year. The results includes $3.24 million tax benefit, mean while the prior year loss include a hefty $12.42 million other expenses. On a per share basis, the company recorded $0.12 on 49 million shares outstanding, compared to a loss of $0.55 on 21.49 million shares.
On average, three analysts polled by Thomson Reuters expected the company to earn $0.07 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter almost trippled to $6.22 million from $2.03 million in the prior-year quarter. Three analysts were looking for revenue of $6.14 million for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.