SM Energy Co. Q2 Profit Decreases, but beats estimates

(RTTNews) - SM Energy Co. (SM) revealed a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $149.9 million, or $1.25 per share. This compares with $323.5 million, or $2.60 per share, in last year's second quarter.

Excluding items, SM Energy Co. reported adjusted earnings of $153.8 million or $1.28 per share for the period.

Analysts on average had expected the company to earn $1.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 44.5% to $550.8 million from $992.1 million last year.

SM Energy Co. earnings at a glance (GAAP) :

-Earnings (Q2): $149.9 Mln. vs. $323.5 Mln. last year. -EPS (Q2): $1.25 vs. $2.60 last year. -Analyst Estimates: $1.09 -Revenue (Q2): $550.8 Mln vs. $992.1 Mln last year.