Talisman Energy Earnings Up 300% But Misses Estimates (TLM)

Talisman Energy Inc. TLM on Tuesday morning released financial results that missed Wall Street earnings expectations, while beating revenue estimates. Talisman Energy Inc reported that its 3rd quarter net income jumped to $121 million, or 12 cents per share, up from $30 million, or 3 cents per share, a year earlier. The company's earnings from continuing operations came in at 2 cents per share. Revenue rose to $1.71 billion, up from $1.43 billion a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 11 cents per share, on revenue of $1.57 billion. President & CEO John A. Manzoni said, "Talisman had a very active third quarter in terms of acquisitions, each of which strengthen our portfolio in line with the strategy. We have almost doubled our land position in the Eagle Ford shale and, at the same time, increased the liquids proportion of our total acreage. We are now very well positioned in the high quality, liquids rich transition window of the play. Talisman Energy Inc. (TLM) ended the previous trading session at $18.16 per share. Analysts covering the company's stock have a consensus price target of $22.99 per share. Read more from Benzinga's Company news.