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Chesapeake: 1Q Earnings Snapshot

OKLAHOMA CITY (AP) _ Chesapeake Energy Corp. (CHK) on Wednesday reported a first-quarter loss of $21 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Oklahoma City-based company said it had a loss of 3 cents. Earnings, adjusted for non-recurring costs, were 14 cents per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The natural gas company posted revenue of $2.2 billion in the period. Its adjusted revenue was $929 million, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.09 billion.

The company's shares closed at $2.79. A year ago, they were trading at $3.13.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHK at https://www.zacks.com/ap/CHK