Chesapeake: 3Q Earnings Snapshot

November 5, 2019 GMT

OKLAHOMA CITY (AP) — Chesapeake Energy Corp. (CHK) on Tuesday reported a third-quarter loss of $61 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 6 cents. Losses, adjusted for non-recurring gains, were 11 cents per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.

The natural gas company posted revenue of $2.06 billion in the period. Its adjusted revenue was $1.17 billion, which matched Street forecasts.

The company’s shares closed at $1.56. A year ago, they were trading at $3.49.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHK at https://www.zacks.com/ap/CHK