SM Energy Co. has reported a rise in its third-quarter earnings compared to the previous year, surpassing analysts' expectations. The company's net income for this quarter reached $240.52 million, translating to earnings of $2.09 per share. This is an improvement from the $222.34 million, or $1.88 per share, recorded in the same quarter last year.
On an adjusted basis, which excludes certain items, SM Energy Co. posted earnings of $186.43 million, or $1.62 per share for the quarter. This figure surpassed the average analyst prediction of $1.53 per share, according to data from Thomson Reuters, noting that analysts' forecasts generally exclude special items.
Revenue for the company edged up by 0.4%, totaling $643.61 million, compared to $640.90 million during the same period the previous year.
A summary of SM Energy Co.'s GAAP earnings for the third quarter is as follows:
- Earnings: $240.52 million compared to $222.34 million the previous year.
- Earnings per Share (EPS): $2.09 compared to $1.88 last year.
- Revenue: $643.61 million versus $640.90 million last year.
