For the latest quarter, the gas and oil company posted a loss of $2.13 per share, compared to a profit of 59 cents per share in the same quarter the previous year. Revenue came in at $764 million, down 26% from $1.035 billion in the same quarter the previous year.
Analysts had predicted earnings of 6 cents per share on revenue of $789.6 million for the second quarter of 2015.
In addition, the company in the recent quarter posted a $1.5 billion pretax impairment charge, The Wall Street Journal reports.
Despite the earnings miss, the company increased its 2015 production guidance. Total gas and oil production guidance was lifted to 982 billions of cubic feet equivalent (BCFE) from 973 BCFE.
Furthermore, Southwestern's capital expenditure guidance for the year is now $1.875 billion, down from its February projection of $2.015 billion.
"Our low cost structure and our unique portfolio continues to demonstrate our ability to thrive in an environment where many in the industry are focusing on how to survive," CEO Steve Mueller stated.
On Tuesday, Southwestern Energy shares are rallying by 7.20% to $19.65 on heavy trading volume with advancing oil prices. Crude oil (WTI) is gaining by 1.41% to $48.06 per barrel and Brent crude is also rising 0.19% to $53.57 per barrel, according to the CNBC.com index.
Separately, TheStreet Ratings team rates SOUTHWESTERN ENERGY CO as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SOUTHWESTERN ENERGY CO (SWN) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, disappointing return on equity and weak operating cash flow."
You can view the full analysis from the report here: SWN Ratings Report