OKLAHOMA CITY — Chesapeake Energy Corp. (CHK) on Thursday reported a loss of $18 million in its third quarter.
On a per-share basis, the Oklahoma City-based company said it had a loss of 5 cents. Earnings, adjusted for non-recurring costs and asset impairment costs, were 12 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The natural gas company posted revenue of $1.94 billion in the period. Its adjusted revenue was $979 million, missing Street forecasts. Four analysts surveyed by Zacks expected $1.04 billion.
The company’s shares closed at $3.96. A year ago, they were trading at $5.36.