SM Energy (SM) Q3 Earnings Beat Estimates, Revenues Miss
Zacks Investment Research | Nov 06, 2017 10:33PM ET
Independent oil and gas firm, SM Energy Company’s (NYSE:SM) third-quarter 2017 adjusted loss of 25 cents per share beat the Zacks Consensus Estimate of a loss of 32 cents. The figure also improved from the year-ago quarter loss of 37 cents. The improvement in the bottom line can be attributed to an increase in oil equivalent price for the third quarter.
Total revenue (Oil, gas, and NGL production sales) decreased to $294.5 million from $329.2 million in the prior-year quarter. Revenues also missed the Zacks Consensus Estimate of $297 million. The disappointing revenue performance was due to a decline in production and increase in operating expenses.
SM Energy Company Price, Consensus and EPS Surprise/h3
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