Feb 25 QEP Resources Inc's quarterly
adjusted profit missed analysts' expectations by a wide margin,
hurt by a 21 percent fall in natural gas production due to
severe winter weather In North America.
The Denver, Colorado-based company's shares fell as much as
12 percent in extended trading on Tuesday after the company also
forecast a fall in full-year production.
Net loss attributable to the company more than doubled to
$52.0 million in the fourth quarter from $23.1 million a year
Excluding items, the company earned 17 cents per share.
Analysts on average were expecting profit of 40 cents per
share, according to Thomson Reuters I/B/E/S.
Revenue rose 2 percent to $715.5 million, but missed
analysts' average estimate of $767.8 million.
The company's fourth-quarter natural gas output slumped 21
percent to 48.3 billion cubic feet. That led to a 10 percent
fall in total output.
For 2014, the company expects total production of 283-307
billion cubic feet equivalent, lower than the 309.0 bcfe it
produced in 2014.