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Chesapeake Energy Corporation Stock Soars on Q4 Earnings Beat

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Chesapeake Energy Corporation (NYSE: CHK ) stock was on the rise today following the release of its earnings report for the fourth quarter of 2017.

Chesapeake Energy Corporation Stock Soars on Q4 Earnings Beat

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During the fourth quarter of the year, Chesapeake Energy Corporation reported earnings per share of 30 cents. This is an increase over its earnings per share of 7 cents from the same time last year. It was also good news for CHK stock by beating out Wall Street's earnings per share estimate of 24 cents for the quarter.

Net income reported by Chesapeake Energy Corporation for the fourth quarter of the year came in at $334 million. The petroleum and natural gas company based out of Oklahoma City reported a net loss of $341 million for the fourth quarter of 2016.

Chesapeake Energy Corporation also reported operating income of $405 million for the fourth quarter of 2017. This is up from its net loss of $295 million that was reported in the same period of the year prior.

Revenue reported by Chesapeake Energy Corporation for the fourth quarter of 2017 was $2.52 billion. This is better than its revenue of $2.01 billion that was reported in the same quarter of 2016. It was also a boon to CHK stock by coming in above analysts' revenue estimate of $2.30 billion for the period.

Chesapeake Energy Corporation's most recent earnings report also includes its outlook for the full year of 2018. The company says that it is expecting production growth for the year to range from 1% to 5%. It is also planning to reduce operating costs and see higher NYMEX pricing for 2018.

CHK stock was up 18% as of Thursday morning.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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The post Chesapeake Energy Corporation Stock Soars on Q4 Earnings Beat appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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