This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Chesapeake Energy Corporation Reports Financial And Operational Results For The 2013 Third Quarter

Chesapeake Energy Corporation (NYSE:CHK) today reported financial and operational results for the 2013 third quarter. Key information related to the quarter and Chesapeake's updated Outlook is as follows:
  • Adjusted net income per fully diluted share of $0.43, compared to $0.10 in the 2012 third quarter
  • Adjusted ebitda of $1.325 billion increases 29% year over year
  • Net daily oil production rises 23% year over year to 120,000 bbls per day
  • Full-year 2013 oil production outlook increases by 2 million barrels to 40 – 42 million barrels, a 28 – 34% increase year over year
  • Full-year 2013 drilling, completion and leasehold capital expenditure outlook decreases by $300 million to $5.700 – $6.050 billion
  • Conference call at 9:00 am EST today; dial-in 913-312-0713, passcode 5588965

Chesapeake reported net income available to common stockholders of $156 million or $0.24 per fully diluted share. These results include the effects of the following after-tax items:
  • noncash unrealized mark-to-market losses of $118 million from the company’s derivative instruments;
  • a charge of $55 million for the impairment of certain of the company’s property and equipment and other assets;
  • a net gain of $82 million on sales of certain of the company’s property and equipment, consisting primarily of midstream assets; and
  • a $39 million charge for restructuring and other termination benefits.

Adjusting for these and other items not typically included in earnings estimates by securities analysts, Chesapeake reported adjusted net income available to common stockholders of $282 million, or $0.43 per fully diluted share, which compares to adjusted net income available to common stockholders of $35 million, or $0.10 per fully diluted share, in the 2012 third quarter.

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.44 -0.95%
GOOG $692.33 -0.84%
TSLA $232.32 -3.92%
YHOO $36.02 -1.40%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs