Chesapeake Energy Corp Earnings Cheat Sheet: Rise in Profit

S&P 500 (NYSE:SPY) component Chesapeake Energy Corporation (NYSE:CHK) reported net income above Wall Street’s expectations for the third quarter. Chesapeake Energy 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 Third Quarter

Results: Net income for Chesapeake Energy Corporation rose to $879 million ($1.23 per share) vs. $467 million (68 cents per share) in the same quarter a year earlier. This marks a rise of 57.5% from the year earlier quarter.

Actual vs. Wall St. Expectations: CHK reported adjusted net income of 72 cents per share. By that measure, the company beat the mean estimate of 65 cents per share.

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 4 cents in the second quarter, by 5 cents in the first quarter, and by 6 cents in the fourth quarter of the last fiscal year.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the fourth quarter is 68 cents per share, down from 75 cents ninety days ago. The average estimate for the fiscal year is $2.84 per share, down from $2.94 ninety days ago.

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. (NYSE:UNG).

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(Source: Xignite Financials)