Vanguard Natural Resources Q1 Results Top Estimates

(RTTNews) - Vanguard Natural Resources, LLC (VNR) reported a net loss for the first quarter of $125.5 million or $1.49 per unit, compared to net income of $13.2 million or $0.16 per unit for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $18.0 million or $0.21 per unit, compared to $24.6 million or $0.31 per unit in the prior year quarter.

Total revenue for the first quarter rose to $157.93 million from $96.70 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.01 per share on revenue of $147.96 million for the first quarter. Analysts' estimates typically exclude special items.

The company reported average production of 394 MMcfe per day in the first quarter, up 47% over 268 MMcfe per day produced in the first quarter of 2014.