Chesapeake Energy Corporation (CHK) Wednesday reported a profit for the first quarter, reflecting increased total production and oil production for the period. Adjusted earnings per share were higher than what analysts had predicted.
For the quarter, the firm posted net earnings attributable to company of $58 million versus a loss of $28 million last year. On a per share basis, earnings were $0.02 versus a loss of $0.11 last year.
On an adjusted basis, earnings for the quarter totaled $0.30 per share. Twenty-nine analysts, on average, polled by Thomson Reuters estimated earnings per share of $0.25 for the period. Analysts estimates typically exclude one-time items.
Revenue for the quarter was $3.424 billion, up from $2.419 billion last year. Analysts were looking for revenue of $2.80 billion for the quarter. The company said total production increased 9 percent year-over-year to 4.0 bcfe per day, while oil production rose 56 percent to 103,000 bbls per day.
Looking forward, the company said it now projects that production expenses will range from $0.85 to $0.90 per mcfe for the year, down $0.05 per mcfe versus prior guidance. It also projected that 2013 G&A expenses, excluding stock-based compensation, will range from $0.30 to $0.35 per mcfe, down $0.04 per mcfe versus prior guidance.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.