Southwestern Energy Earnings: Swinging to a Loss and Missing Estimates

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S&P 500 (NYSE:SPY) component Southwestern Energy Co. (NYSE:SWN) swung to a loss in the third quarter, missing analysts’ forecast. Southwestern Energy is an independent energy company that, through its subsidiaries, explores, develops and produces natural gas and crude oil.

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Southwestern Energy Co. Earnings Cheat Sheet

Results: Reported a loss of $144.8 million (42 cents per diluted share) in the quarter. The utility-gas distribution had net income of $175.2 million or 50 cents per share in the year-earlier quarter.

Revenue: Fell 10.6% to $685.8 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Southwestern Energy Co. fell short of the mean analyst estimate of 32 cents per share. It beat the average revenue estimate of $636.8 million.

Key Stats:

Revenue has dropped for three consecutive quarters. In the second quarter, revenue declined 21.6% to $599.7 million while the figure fell 2.9% in the first quarter from the year earlier.

The company fell short of estimates last quarter after being in line with expectations the quarter before with net income of 26 cents.

Looking Forward: For next quarter, analysts have a more positive outlook about the company’s expected results. The average estimate for the fourth quarter is 38 cents per share, up from 34 cents ninety days ago. For the fiscal year, the average estimate has moved up from $1.20 a share to $1.27 over the last ninety days.

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

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