Compared to Estimates, SM Energy (SM) Q4 Earnings: A Look at Key Metrics

SM Energy (SM) reported $608.73 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 9.3%. EPS of $1.56 for the same period compares to $1.29 a year ago.

The reported revenue represents a surprise of -0.55% over the Zacks Consensus Estimate of $612.1 million. With the consensus EPS estimate being $1.39, the EPS surprise was +12.23%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how SM Energy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Average daily production - Total: 153.5 millions of barrels of oil equivalent versus the six-analyst average estimate of 152.82 millions of barrels of oil equivalent.
  • Average daily production - Crude oil: 66 millions of barrels of oil versus the five-analyst average estimate of 65.15 millions of barrels of oil.
  • Average daily production - Natural gas: 364.1 millions of cubic feet versus the five-analyst average estimate of 365.14 millions of cubic feet.
  • Average daily production - NGLs: 26.7 millions of barrels of oil versus 26.71 millions of barrels of oil estimated by five analysts on average.
  • Average realized price - Crude oil - Including hedging per bbl: $76.31 versus the two-analyst average estimate of $76.52.
  • Average realized price - Natural gas - Including hedging per mcf: $2.81 versus $2.87 estimated by two analysts on average.
  • Production - Crude oil: 6.1 MBBL versus 5.96 MBBL estimated by two analysts on average.
  • Production - Total: 14.1 MBOE versus 14.06 MBOE estimated by two analysts on average.
  • Production - NGLs: 2.5 MBBL versus 2.48 MBBL estimated by two analysts on average.
  • Average realized price - Natural gas - before the effect of derivative settlements: $2.47 versus $2.76 estimated by two analysts on average.
  • Average realized price - Crude oil per bbl - before the effect of derivative settlements: $77.41 versus $80.46 estimated by two analysts on average.
  • Operating revenue- Oil, gas, and NGL production revenue: $606.86 million versus the three-analyst average estimate of $579.09 million. The reported number represents a year-over-year change of -9.3%.
View all Key Company Metrics for SM Energy here>>>

Shares of SM Energy have returned +7.8% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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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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