NORTHERN OIL & GAS, INC. (NOG) announced a profit for its third quarter that increased from last year but missed the Street estimates.
The company's bottom line came in at $298.4 million, or $2.96 per share. This compares with $26.1 million, or $0.28 per share, in last year's third quarter.
Excluding items, NORTHERN OIL & GAS, INC. reported adjusted earnings of $141.1 million or $1.40 per share for the period.
Analysts on average had expected the company to earn $1.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 140.0% to $753.638 million from $313.973 million last year.
NORTHERN OIL & GAS, INC. earnings at a glance (GAAP) :
-Earnings (Q3): $298.4 Mln. vs. $26.1 Mln. last year.
-EPS (Q3): $2.96 vs. $0.28 last year.
-Revenue (Q3): $753.638 Mln vs. $313.973 Mln last year.
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