SM Energy (SM) Tops Q2 EPS by 24c

SM Energy (NYSE: SM) reported Q2 EPS of ($0.44), $0.24 better than the analyst estimate of ($0.68). Revenue for the quarter came in at $341.8 million versus the consensus estimate of $344.61 million.

• Production of 14.3 MMBoe exceeded plan by approximately 1 MMBoe reflecting outperformance from new wells in the Eagle Ford and Permian; oil production of 4.1 MMBoe at mid-point of guidance
• GAAP Net cash provided by operating activities $138.6 MM; Adjusted EBITDAX $217.1 MM
• GAAP Costs incurred $177.3 MM; total capital spend $167.6 MM
• Capital spend and operating cost guidance lowered, production guidance raised
• Operating costs below plan across the board including LOE, transportation and G&A
• Asset divestitures under definitive agreements total $172.5 MM

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

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