MIDLAND, Texas (AP) — Rattler Midstream LP (RTLR) on Wednesday reported fourth-quarter net income of $9.6 million, after reporting a loss in the same period a year earlier.
The Midland, Texas-based company said it had net income of 21 cents per share. Earnings, adjusted for non-recurring costs, were 22 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The oil and natural gas services provider posted revenue of $109.2 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $93.5 million.
For the year, the company reported profit of $34.7 million, or 74 cents per share. Revenue was reported as $423.9 million.
Rattler Midstream shares have risen 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.27, a decline of 24% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RTLR at https://www.zacks.com/ap/RTLR
