Key Energy Services Inc. (KEG) posted a third quarter loss of $124.9 million or $1.03 per share, compared to a profit of $48.5 million or $0.39 per share in the prior year period. Excluding certain items, net loss for the third quarter was $24.1 million or $0.20 per share.
On average, 14 analysts polled by Thomson Reuters expected the company to report a loss of $0.20 per share. Analysts' estimates typically exclude special items.
The company said the net loss includes previously announced pre-tax charges of $159.8 million for rig retirements and asset impairments.
Revenue for the period was $237.7 million, compared to $535.6 million in the preceding year period. Eight Wall Street analysts expected revenues of $240.43 million.
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