SM Energy (SM) Tops Q2 EPS by 37c; Boosts FY11 Production Outlook
SM Energy (NYSE: SM) reported Q2 EPS of $0.91, $0.37 better than the analyst estimate of $0.54. Revenue for the quarter came in at $377.9 million versus the consensus estimate of $302.07 million.
Company increases 2011 production forecast to a range of 162 – 167 BCFE, up approximately 10% from prior guidance.
Production for 2012 expected to increase 35% - 40% to a range of 225 – 232 BCFE, based on preliminary 2012 capital program budget of $1.4 to $1.5 billion.
Company increases 2011 production forecast to a range of 162 – 167 BCFE, up approximately 10% from prior guidance.
Production for 2012 expected to increase 35% - 40% to a range of 225 – 232 BCFE, based on preliminary 2012 capital program budget of $1.4 to $1.5 billion.