Chesapeake Energy (NYSE:CHK) earnings for the electric company’s fourth quarter of 2019 have CHK stock falling on Wednesday. This follows its adjusted per-share losses of -4 cents. That’s better than Wall Street’s estimate of -6 cents per share. Its revenue of $1.93 billion is a different story, missing analysts’ estimates of $2.1 billion.
The following are some additional highlights from the most recent Chesapeake Energy earnings report.
- Adjusted losses per share are a switch from earnings per share of 3 cents during the same time last year.
- Revenue for the quarter comes in 30.82% worse than the $2.79 billion in the fourth quarter of 2018.
- Operating loss of -$173 million is a major drop from year-over-year from operating income of $418 million.
- The Chesapeake Energy earnings report also includes a net loss of -$324 million.
- That’s a decline compared to its net income of $605 million from the same period of the year prior.
Doug Lawler, President and CEO of Chesapeake Energy, said this about the CHK stock earnings report:
“We are pleased to highlight our strong 2019 operational performance, delivering fourth quarter oil production of 126,000 barrels (bbls) of oil per day and increasing our oil mix to 26% of total production, the highest percentage in company history.”
The Chesapeake Energy earnings report doesn’t make mention of a 2020 guidance. Despite this, we know what Wall Street expects. That includes adjusted losses per share of -31 cents on revenue of $8.03 billion.
CHK stock was down 32.4% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.