Chesapeake Energy Corp. (CHK) revealed a profit for fourth quarter that decreased from last year but beat the Street estimates.
The company's bottom line totaled $569 million, or $4.02 per share. This compares with $3.51 billion, or $24.00 per share, in last year's fourth quarter.
Excluding items, Chesapeake Energy Corp. reported adjusted earnings of $185 million or $1.31 per share for the period.
Analysts on average had expected the company to earn $0.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 52.8% to $1.95 billion from $4.13 billion last year.
Chesapeake Energy Corp. earnings at a glance (GAAP) :
-Earnings (Q4): $569 Mln. vs. $3.51 Bln. last year.
-EPS (Q4): $4.02 vs. $24.00 last year.
-Analyst Estimates: $0.73
-Revenue (Q4): $1.95 Bln vs. $4.13 Bln last year.
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