Chesapeake Energy Corporation’s (NYSE:CHK) earnings report wasn’t all bad news Thursday, but the good wasn’t enough to keep CHK stock from sinking.
Starting off with the good news first, Chesapeake Energy Corporation reported earnings per share of 12 cents in the third quarter of 2017. This is an increase over its earnings per share of 9 cents from the same time last year. It also came in above Wall Street’s earnings per share estimate of 11 cents for the quarter.
Chesapeake Energy Corporation also reported operating income of $94 million in the third quarter of 2017. This is a major increase over its operating loss of $1.23 billion from the same period of the year prior.
CHK reported a net loss of $17 million for the third quarter of the year. The natural gas and oil company’s net loss from the same quarter of the previous year was $1.21 billion.
Now we get to what is causing CHK stock to drop today. During the third quarter of the year, Chesapeake Energy Corporation reported revenue of $1.94 billion. This is a drop from its revenue of $2.28 billion from the third quarter of 2016. It also wasn’t able to reach analysts’ revenue estimate of $2.07 billion for the third quarter of 2017.
Chesapeake Energy Corporation’s revenue from oil, natural gas and natural gas liquids in the third quarter was $979 million. This is down from its oil, natural gas and natural gas liquids revenue of $1.18 billion in the third quarter of the year prior.
Marketing, gathering and compression revenue reported by Chesapeake Energy Corporation for the quarter was $964 million. Marketing, gathering and compression revenue reported during the same time last year was $1.10 billion.
CHK stock is down 6% as of Thursday afternoon and is down 47% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
