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$QEP Resources Huge earnings surprise

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NYSE:QEP   QEP RESOURCES INC
QEP Resources ( QEP ) came out with quarterly earnings of $0.21 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 950%. A quarter ago, it was expected that this independent oil and gas company would post earnings of $0.06 per share when it actually produced a loss of $0.10, delivering a surprise of -266.67%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

QEP Resources, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $225.80 million for the quarter ended March 2020, missing the Zacks Consensus Estimate by 16.82%. This compares to year-ago revenues of $280.60 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

QEP Resources shares have lost about 87.8% since the beginning of the year versus the S&P 500's decline of -11.4%. source zacks
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