Whiting Petroleum Corp. (WLL) Wednesday reported a spike in fourth-quarter net income to $81.4 million or $0.69 per share, from $62.6 million or $0.53 per share in the same quarter last year, mainly due to improved revenues.
Adjusted net income for the quarter was $97.9 million or $0.83 per share, compared to $124.5 million or $1.05 per share in the year-ago quarter. On average, 34 analysts polled by Thomson Reuters expected earnings 0.75 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, total revenues for the quarter grew to $577.09 million from $478.63 million in the prior year, while analysts expected to see revenues of $535.95 million for the quarter.
For comments and feedback: editorial@rttnews.com