Southwestern Energy reports Q3 EPS 25c, consensus 20c
Reports Q3 revenue $951M, consensus $856.68M. Produced 252 Bcfe, including a 22% increase in Appalachia to 187 Bcfe Bill Way, President and Chief Executive Officer of Southwestern Energy said, "This quarter's cash flow was more than 40% higher than the same period last year. Results benefited from our returns focused growth of liquids as prices improved, from our leading low cost gas transportation portfolio as regional basis tightened and from operational achievements made by our leading operational team. In addition to building on our operational and financial momentum, we took another deliberate step in our strategy to reposition the Company by signing an agreement to sell the Fayetteville Shale assets." Way continued, "In addition to delivering strong quarterly results, we initiated the share repurchase program with an initial $25 million repurchase of shares and we completed a conditional $900MM debt tender that will significantly reduce near term debt maturities and leverage. Clearly, our team is executing and our strategy is working."