PetroQuest Energy’s profit drops 73 percent
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LAFAYETTE (AP) — Independent petroleum producer PetroQuest Energy Inc. took a 73 percent hit on third-quarter earnings in the face of sharply lower energy prices from a year ago, the company said Tuesday.
During the three months ending Sept. 30, PetroQuest earned $4.5 million, or 7 cents per share, on revenue of $50.3 million, compared with year-ago earnings in the third quarter of $16.8 million, or 32 cents per share, on revenue of $78.3 million.
Analysts surveyed by Thomson Financial, on average, had forecast a per-share profit of 13 cents and revenue of $52.2 million for the latest quarter.
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