Energen Q2 Profit Decreases On Expenses; Cuts FY13 EPS Guidance - Quick Facts

(RTTNews) - Energen Corp. (EGN) reported that its second-quarter net income decreased to $83.1 million, or $1.15 per share, from $131.29 million or $1.82 per share, last year.

Excluding non-cash items, adjusted net income totaled $47.6 million, or $0.66 per share for the quarter. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.62 for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues rose to $490.06 million, from $470.36 million last year. Analysts expected revenue of $404.95 million for the quarter.

Total operating expenses were $343.75 million for the quarter, compared to $249.76 million last year.

The company has revised its net income guidance for 2013 down to $3.15-$3.55 per share due largely to increased estimates for LOE and slight changes to product mix. Analysts expect the company to reort profit per share of $3.31 for the quarter.