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SM Energy (SM) Misses Q4 EPS by 4c, Revenues Beat

February 20, 2019 5:03 PM

SM Energy (NYSE: SM) reported Q4 EPS of ($0.18), $0.04 worse than the analyst estimate of ($0.14). Revenue for the quarter came in at $394.19 million versus the consensus estimate of $382.01 million.

President and Chief Executive Officer Jay Ottoson comments: "2018 was a very successful year. During the second year of our three-year portfolio transition plan we completed the coring-up of our portfolio to focus on our two high return assets, generated a 66% increase in our operating margin (pre-hedge) driven by a 97% increase in core Permian production (based on retained assets), delivered significant value creation as measured by proved reserve additions and pre-tax PV-10, and set the foundation for long-term profitable growth. In 2019, we expect to continue our upward trajectory for production and cash flows while targeting cash flow neutrality in the second half of the year."

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

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