Anadarko Petroleum Corp. on Tuesday swung to a $2.24 billion loss in its third quarter amid hefty impairment charges and a drop in revenue.
The Houston-based oil-and-gas exploration and production company has been hurt by the tumble in crude prices over the past 15 months.
Anadarko's third-quarter results included a number of special charges, totaling $1.88 billion on an after-tax basis, for impairments, losses on divestitures, and losses on derivatives.
That drove Anadarko to an overall loss of $2.24 billion, or $4.41 a share, compared with a profit of $1.09 billion, or $2.12 a share, a year earlier.
Excluding certain items, per-share loss was 72 cents a share. Analysts polled by Thomson Reuters had forecast a 73-cent loss.
Total revenue, which includes gains and losses on divestitures, tumbled to $1.69 billion from $5.01 billion a year earlier.
Shares of Anadarko, inactive in after-hours trading, are down 21% this year.
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