SM Energy Co. Q1 Profit Decreases, but beats estimates

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

The company's bottom line totaled $131.2 million, or $1.13 per share. This compares with $198.6 million, or $1.62 per share, in last year's first quarter.

Excluding items, SM Energy Co. reported adjusted earnings of $164.1 million or $1.41 per share for the period.

Analysts on average had expected the company to earn $1.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.4% to $559.9 million from $573.5 million last year.

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

-Earnings (Q1): $131.2 Mln. vs. $198.6 Mln. last year. -EPS (Q1): $1.13 vs. $1.62 last year. -Revenue (Q1): $559.9 Mln vs. $573.5 Mln last year.