SPRING, Texas (AP) _ Southwestern Energy Co. (SWN) on Thursday reported third-quarter net income of $49 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Spring, Texas-based company said it had net income of 9 cents. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.
The results matched Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was also for earnings of 8 cents per share.
The independent oil and gas company posted revenue of $636 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $641.4 million.
In the final minutes of trading on Thursday, the company's shares hit $1.99. A year ago, they were trading at $4.86.