Call traders are blasting Southwest Energy Co (NYSE:SWN) today, after news that the company's merger with Chesapeake Energy (CHK) will occur in the fourth quarter of this year.
Southwestern Energy Company reported disappointing second-quarter earnings, missing revenue and profit expectations, leading to a 6.20% stock decline. Despite struggles in the natural gas industry, Southwestern Energy's net loss was due to a non-cash impairment charge, with positive cash flow. The delayed merger with Chesapeake Energy presents a potential short-term profit opportunity for investors if and when it closes.
Southwestern's (SWN) Q2 earnings gain from higher oil price realization, partially offset by lower gas-equivalent production volumes and lower realized gas prices.
Southwestern Energy (SWN) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.09 per share. This compares to earnings of $0.09 per share a year ago.
Southwestern Energy (SWN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.