Oklahoma-based petroleum and natural gas company Chesapeake Energy today reported that its fourth quarter bottom line increased to $309 million or $0.33 per share, resulting from debt reduction efforts that it had implemented through 2017, as well as increased cash flow. On an adjusted basis, net income attributable to Chesapeake was $314 million, or $0.30 per diluted share.
The company revenue for the quarter jumped 24.8% to $2.52 billion, up from $2.02 billion a year ago.
The natural gas producer’s oil, natural gas and NGL unhedged revenue in the fourth quarter jumped 16% year-over-year, driven by a 3% spike in volumes and higher commodity prices.
For 2018, Chesapeake expects production, adjusted for asset sales, to grow about 3% year-over-year, while oil volumes are expected to grow about 5% compared to 2017 levels.
Most Popular
QCOM Earnings: Qualcomm Q2 2024 revenue and profit beat Street view
Semiconductor company Qualcomm, Inc. (NASDAQ: QCOM) reported an increase in earnings and revenues for the second quarter of 2024. The numbers came in above analysts' estimates. At $9.39 billion, March-quarter
Key takeaways from Amazon’s Q1 2024 earnings report
Amazon.com Inc. (NASDAQ: AMZN) had an upbeat start to fiscal 2024, delivering strong growth across the business in the first three months of the year. While the cloud segment continues
Key takeaways from Pfizer’s (PFE) Q1 2024 earnings report
Shares of Pfizer Inc. (NYSE: PFE) gained over 5% on Wednesday following the company’s announcement of its first quarter 2024 earnings results. Although the top and bottom line numbers decreased
