SM Energy Company (SM) Tuesday reported first-quarter net income of $16.7 million or $0.25 per share, down from $26.3 million or $0.39 per share last year.
Adjusted net income for the first quarter improved to $55.3 million or $0.82 per share from $32.8 million or $0.48 per share last year. On average, 26 analysts polled by Thomson Reuters expected earnings of $0.57 per share for the quarter. Analysts' estimates typically exclude special items.
Total operating revenues for the quarter grew to $484.2 million from $377.4 million last year. Analysts on consensus estimated revenues of $455.53 million for the quarter.
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