Chesapeake: 2Q Earnings Snapshot
OKLAHOMA CITY (AP) _ Chesapeake Energy Corp. (CHK) on Wednesday reported a second-quarter loss of $40 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Oklahoma City-based company said it had a loss of 4 cents. Earnings, adjusted for non-recurring costs, came to 15 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The natural gas company posted revenue of $2.26 billion in the period. Its adjusted revenue was $982 million, which missed Street forecasts. Three analysts surveyed by Zacks expected $1.12 billion.
The company’s shares closed at $4.72. A year ago, they were trading at $4.96.