Why is EPE Energy's Revenue different between Nasdaq and Morningstar? Below are the two numbers, am I missing something?

says revenue is 1.066 billion for 2017 https://www.nasdaq.com/symbol/epe/financials?query=income-statement

says revenue is 1.025 billion for 2017 http://financials.morningstar.com/income-statement/is.html?t=EPE&region=usa

1 Answer 1


Many providers will "normalize" financial statements so that comparing between companies is more consistent (meaning the same activities are bucketed consistently).

Looking at the raw financial statements, it appears that Nasdaq is excluding the $41M gain in "Financial derivatives" from "revenue" and including it as a contra-expense in "cost of revenue". This is reasonable since the derivative income/loss is not impacted by operations but a result of hedging activities to reduce commodity price risk.

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