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Southwestern Energy's Q1 adjusted net income rises YOY, beats estimatesfrom SNL Energy Finance Daily Southwestern Energy's Q1 adjusted net income rises YOY, beats estimatesByline: Dyna Mariel Bade Southwestern Energy Co. on April 29 reported a first-quarter adjusted net income of $196 million, or 29 cents per share, versus $56 million, or 10 cents per share, in the prior-year period. The S&P Capital IQ consensus normalized earnings estimate for the first quarter was 24 cents per share. On a GAAP basis, Southwestern's first-quarter net income came in at $80 million, reversing from a net loss of $1.55 billion in the year-ago quarter. The Appalachian shale gas driller's first-quarter operating revenue clocked in at $1.07 billion, up from $592 million a year earlier. Total production for the first quarter was 269 Bcfe, versus 201 Bcfe in the same period a year ago. |
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