SM Energy Co. Q3 Profit Decreases, but beats estimates

(RTTNews) - SM Energy Co. (SM) reported earnings for third quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $222.3 million, or $1.88 per share. This compares with $481.2 million, or $3.87 per share, in last year's third quarter.

Excluding items, SM Energy Co. reported adjusted earnings of $205.0 million or $1.73 per share for the period.

Analysts on average had expected the company to earn $1.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 23.3% to $640.9 million from $835.5 million last year.

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

-Earnings (Q3): $222.3 Mln. vs. $481.2 Mln. last year. -EPS (Q3): $1.88 vs. $3.87 last year. -Analyst Estimates: $1.53 -Revenue (Q3): $640.9 Mln vs. $835.5 Mln last year.