Chesapeake Energy Corp. Q1 Profit Decreases, misses estimates

(RTTNews) - Chesapeake Energy Corp. (CHK) reported a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $26 million, or $0.18 per share. This compares with $1.39 billion, or $9.60 per share, in last year's first quarter.

Excluding items, Chesapeake Energy Corp. reported adjusted earnings of $80 million or $0.56 per share for the period.

Analysts on average had expected the company to earn $0.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 68.0% to $1.08 billion from $3.37 billion last year.

Chesapeake Energy Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $26 Mln. vs. $1.39 Bln. last year. -EPS (Q1): $0.18 vs. $9.60 last year. -Revenue (Q1): $1.08 Bln vs. $3.37 Bln last year.