US

Carrizo beats Street 2Q forecasts

HOUSTON (AP) _ Carrizo Oil & Gas Inc. (CRZO) on Tuesday reported second-quarter net income of $56.3 million, after reporting a loss in the same period a year earlier.

The Houston-based company said it had net income of 85 cents per share. Earnings, adjusted for non-recurring gains, were 30 cents per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The energy company posted revenue of $166.5 million in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $163.8 million.

Carrizo shares have decreased 62 percent since the beginning of the year. The stock has declined 59 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on CRZO at https://www.zacks.com/ap/CRZO

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Keywords: Carrizo Oil, Earnings Report