Chesapeake Energy Earnings: Three Quarters of Profits Ended with a Loss

S&P 500 (NYSE:SPY) component Chesapeake Energy Corporation (NYSE:CHK) reported its results for the first quarter. Chesapeake Energy Corp. is a company that explores and develops properties for the production of crude oil and natural gas from underground reservoirs.

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Chesapeake Energy Earnings Cheat Sheet for the First Quarter

Results: Swung to a loss of $205 million (loss of 32 cents/diluted share) in the quarter. The independent oil and gas company had net income of $732 million or $1.14 cents per share in the year earlier quarter.

Revenue: Stood at $1.61 billion.

Actual vs. Wall St. Expectations: CHK reported adjusted net income of of 75 cents/share. By that measure, the company beat the mean estimate of 70 cents/share. Estimates ranged from 54 cents per share to 87 cents per share.

Key Stats:

CHK’s loss in the latest quarter follows profits in the previous three quarters. The company reported a profit of $224 million in the fourth quarter of the last fiscal year, a profit of $558 million in the third quarter of the last fiscal year and $255 million in the second of the last fiscal year.

Competitors to Watch: Gastar Exploration Ltd. (AMEX:GST), Anadarko Petroleum Corp. (NYSE:APC), Devon Energy Corporation (NYSE:DVN), Bronco Drilling Co., Inc. (NASDAQ:BRNC), EOG Resources, Inc. (NYSE:EOG), Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), Crusader Energy Group Inc. (CKGRQ), Apache Corporation (NYSE:APA), and US Natural Gas Corp. (UNGS)

Stock Performance: Shares of CHK are down 3.3% in after hours trading.

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