Southwestern Energy: 2Q Earnings Snapshot
SPRING, Texas (AP) _ Southwestern Energy Co. (SWN) on Thursday reported second-quarter net income of $51 million.
On a per-share basis, the Spring, Texas-based company said it had net income of 9 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to 18 cents per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The independent oil and gas company posted revenue of $816 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $808.3 million.
In the final minutes of trading on Thursday, the company’s shares hit $4.90. A year ago, they were trading at $5.37.