(RTTNews) - Oil and gas producer SM Energy Company (SM) on Wednesday reported first-quarter results, swinging to a loss from last year despite an increase in revenues.
Net loss was $335 million, or $1.68 loss per share, compared with net income of $182 million, or $1.59 per share, in the year-ago quarter.
Adjusted net income was $309 million, or $1.55 per diluted share, compared with $202 million, or $1.76 per diluted share, last year.
Revenue increased to $1.48 billion from $845 million last year, driven by sharply higher production volumes.
SM Energy raised its full-year 2026 production guidance to 410 - 430 MBoe/d from prior guidance of 400-420 MBoe/d.
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