Emerge Energy Services Blows by Earnings Expectations, Shares Surge
Shares of frack-sand supplier Emerge Energy Services (NYSE: EMES) were up 11.6% as of 11:45 a.m. EDT today. Today's move comes after the company announced earnings that were well above Wall Street's expectations.
Image source: Getty Images.
Frack sand has been a red-hot commodity in 2017, and Emerge's peers have been posting profits for the first time in years; until recently, though, Emerge had lagged behind its peers in turning demand into positive earnings results. This trend changed this past quarter as the company reported net income of $0.16 per share. Total revenue for the quarter increased 227%, compared to the same quarter last year, to $101.7 million. Just for reference, analyst estimates expected a $0.03-per-share loss.
Source: Fool.com
