SM Energy Reports Strong Earnings, Exceeding Analyst Expectations
SM Energy Co. (SM) announced its fourth-quarter financial results on Wednesday, showing an increase in net income.
Key Financial Highlights:
* Net income of $188.3 million, exceeding Wall Street estimates of $1.86 per share.
* Adjusted earnings per share of $1.91 surpassed analyst expectations.
* Revenue of $852.2 million, slightly below Street forecasts of $855.1 million.
Annual Performance:
* Full-year profit of $770.3 million, or $6.67 per share.
* Annual revenue of $2.69 billion.
Despite the slight revenue shortfall in the fourth quarter, SM Energy's overall financial performance exceeded analyst expectations. This demonstrates the company's continued strength in the oil and gas industry.