Chesapeake Energy (CHK) Misses Q3 EPS by 1c, Revenues Miss

November 5, 2019 7:04 AM EST
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Price: $54.05 -2.33%

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Other income (expense): 3M

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Chesapeake Energy (NYSE: CHK) reported Q3 EPS of ($0.11), $0.01 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $2.09 billion versus the consensus estimate of $2.12 billion.

Doug Lawler, Chesapeake's President and Chief Executive Officer, commented, "We are pleased with our execution this quarter as we continue to successfully integrate and realize value from our Brazos Valley acquisition and maximize cash flow from our oil assets while reducing capital directed to our natural gas assets. We expect our oil production to grow approximately 10% in the fourth quarter, compared to the third quarter, and we remain on track to meet our 2019 total production and capital expenditure guidance. Our capital efficiency improvements, expected reduction in cash costs and anticipated capital plan position us to target free cash flow in 2020."

For earnings history and earnings-related data on Chesapeake Energy (CHK) click here.

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