Encana Corp. said its normalized net income for the second quarter was a loss of 34 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 14 cents per share.
The per-share result swung to a loss from the prior-year profit of 31 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $283.1 million, compared with income of $228.8 million in the prior-year period.
The normalized profit margin dropped to negative 34.1% from 14.4% in the year-earlier period.
Total revenue fell 47.7% on an annual basis to $830.0 million from $1.59 billion, and total operating expenses declined 13.5% from the prior-year period to $1.09 billion from $1.26 billion.
Reported net income totaled a loss of $1.61 billion, or a loss of $1.91 per share, compared with income of $274.2 million, or 37 cents per share, in the year-earlier period.
