Southwestern Energy (SWN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Southwestern Energy (SWN) reported $1.27 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 69.3%. EPS of $0.09 for the same period compares to $0.33 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.44 billion, representing a surprise of -11.76%. The company delivered an EPS surprise of +28.57%, with the consensus EPS estimate being $0.07.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Southwestern Energy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average NGL price per Bbl (including derivatives): $20.85 versus $21.11 estimated by six analysts on average.
- Average oil price per Bbl (including derivatives): $56.82 versus $53.36 estimated by six analysts on average.
- Average gas price per Mcf (including derivatives): $2.02 versus the six-analyst average estimate of $1.82.
- Production - Total: 423 Bcfe versus 415.02 Bcfe estimated by five analysts on average.
- Total Gas production: 365 Bcf compared to the 360 Bcf average estimate based on four analysts.
- Average oil price per Bbl (excluding derivatives): $63.20 versus the four-analyst average estimate of $61.87.
- Average NGL price per Bbl (excluding derivatives): $18.63 compared to the $20.12 average estimate based on four analysts.
- Average realized gas price per Mcf (excluding derivative): $1.47 compared to the $1.58 average estimate based on four analysts.
- Revenues- Gas sales: $551 million versus $681.80 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -77.8% change.
- Revenues- Oil sales: $92 million compared to the $83.64 million average estimate based on three analysts. The reported number represents a change of -33.3% year over year.
- Revenues- Gas marketing: $475 million versus $714.68 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -60.7% change.
- Revenues- NGL sales: $153 million versus $146.37 million estimated by two analysts on average.
Shares of Southwestern Energy have returned +5.7% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Southwestern Energy Company (SWN): Free Stock Analysis Report