Categories AlphaGraphs, Earnings, Other Industries
Chesapeake misses on revenue expectations; reports higher earnings
Petroleum and natural gas exploration and production company Chesapeake Energy (CHK) reported higher quarterly earnings today that surpassed analysts’ expectations, as it generated more oil and petroleum gas at higher prices while keeping expenses low. The company’s shares, which were up more than 2% during the pre-market trading, were almost flat when the market opened. However, revenue took a hit dipping 9.6% to $2.5 billion missing analysts’ estimates. Excluding special items, Chesapeake posted earnings of $0.34 per share, an increase of 47.8% year-over-year.
“The strength of our operations and improved cost structure, coupled with higher realized prices, resulted in our best quarterly financial performance in over three years. For the second consecutive quarter, we recorded significant growth in our earnings and cash flow”, said CEO Doug Lawler.
The Oklahoma-based oil producer’s production climbed almost 5% to 554,000 barrels of oil equivalent (boe) per day, while the count of gross wells supplying to the market dropped 25%. Average oil production for the quarter was about 92,000 barrels of oil per day, spiking 16% year-over-year adjusted for asset sales.
Chesapeake’s average realized oil price jumped 10% to $56.89 per barrel in the quarter, while its natural gas price climbed almost 16% to $3.49 per Mcf. This trend was in accordance with the trend among U.S. light crude producers this quarter, who have all profited from an around 33% ascent in costs of U.S. light crude when compared to a year ago.
Most Popular
After a weak first half, will NIKE (NKE) hit the recovery path this year?
After a prolonged slowdown, NIKE, Inc. (NYSE: NKE) is working on a turnaround plan to regain the brand’s strength. In recent years, the sneaker giant’s overall performance has not been
Important takeaways from Paychex’s (PAYX) Q2 2025 earnings report
Paychex Inc. (NASDAQ: PAYX), a leading provider of human resources and payroll services, reported better-than-expected revenue and profit for the second quarter of fiscal 2025, sending the stock higher soon
Lamb Weston’s (LW) challenges may not end soon, a few points to note
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) turned red in mid-day trade on Friday. The stock has dropped 19% in the past one month. The company delivered disappointing results