Chesapeake: 3Q Earnings Snapshot
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.