An Earnings Beat: Upstream energy firm Chesapeake Energy Corporation (CHK - Free Report) reported adjusted earnings per share of 21 cents, beating the Zacks Consensus Estimate of 17 cents.
Estimate Revision Trend: Investors should note that the Zacks Consensus Estimate for the quarter has been unchanged in the last seven days.
Revenue Surpasses: Chesapeake reported revenues of $1.7 billion, surpassed the Zacks Consensus Estimate of $1 billion.
Zacks Rank & Surprise History: Currently, Chesapeake carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Coming to earnings surprise history, the company has an excellent record: it has beaten estimates in all the prior four quarters.
Key Stats: Chesapeake Energy’s production in the reported quarter was approximately 43 million barrels of oil equivalent (MMBoe), lower than 55 MMBoe in the year-earlier comparable period.
Oil equivalent realized price — exclusive of unrealized gains (losses) on derivatives — was $29.64 per barrel of oil equivalent, higher than $23.81 in the year-ago quarter.
Check back later for our full write up on this Chesapeake earnings report later!
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