SM Energy Co. (SM) announced a profit for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $131.2 million, or $1.13 per share. This compares with $198.6 million, or $1.62 per share, in last year's first quarter.
Excluding items, SM Energy Co. reported adjusted earnings of $164.1 million or $1.41 per share for the period.
Analysts on average had expected the company to earn $1.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 2.4% to $559.9 million from $573.5 million last year.
SM Energy Co. earnings at a glance (GAAP) :
-Earnings (Q1): $131.2 Mln. vs. $198.6 Mln. last year.
-EPS (Q1): $1.13 vs. $1.62 last year.
-Revenue (Q1): $559.9 Mln vs. $573.5 Mln last year.
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