Chesapeake Energy Corp First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Chesapeake Energy Corp (NYSE:CHK) will unveil its latest earnings on Tuesday, May 1, 2012. Chesapeake Energy is a company that explores and develops properties for the production of crude oil and natural gas from underground reservoirs.

Chesapeake Energy Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 30 cents per share, a decline of 60% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 46 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 35 cents during the last month. For the year, analysts are projecting profit of $1.50 per share, a decline of 46.4% from last year.

Past Earnings Performance: The company met estimates last quarter after beating the forecasts in the prior two. In the fourth quarter of the last fiscal year, the company reported net income of 58 cents per share versus a mean estimate of profit of 58 cents per share. In the third quarter of the last fiscal year, the company beat estimates by 7 cents.

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Wall St. Revenue Expectations: On average, analysts predict $2.78 billion in revenue this quarter, a rise of 72.7% from the year-ago quarter. Analysts are forecasting total revenue of $11.91 billion for the year, a rise of 2.3% from last year’s revenue of $11.64 billion.

Analyst Ratings: With 12 analysts rate analysts rating the stock a buy, three rate rating it as a sell, and 12 rate rating it a hold, analysts are bullish on the stock.

A Look Back: In the fourth quarter of the last fiscal year, profit rose more than twofold to $473 million (63 cents a share) from $224 million (27 cents a share) the year earlier, meeting analyst expectations. Revenue rose 38.1% to $2.73 billion from $1.98 billion.

Key Stats:

On the top line, the company is looking to build on three-straight revenue increases heading into this earnings announcement. Revenue increased 64.9% in the second quarter of the last fiscal year and 54.1% in the third quarter of the last fiscal year before climbing again in the fourth quarter of the last fiscal year of the last fiscal year.

Stock Price Performance: Between February 28, 2012 and April 25, 2012, the stock price had fallen $6.81 (-27.3%), from $24.94 to $18.13. The stock price saw one of its best stretches over the last year between February 10, 2012 and February 17, 2012, when shares rose for six straight days, increasing 11.7% (+$2.57) over that span. It saw one of its worst periods between November 11, 2011 and November 25, 2011 when shares fell for 10 straight days, dropping 15.2% (-$4) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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