Here's What Key Metrics Tell Us About SM Energy (SM) Q1 Earnings
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SM Energy (SM) reported $573.51 million in revenue for the quarter ended March 2023, representing a year-over-year decline of 33.3%. EPS of $1.33 for the same period compares to $1.98 a year ago.
The reported revenue represents a surprise of +0.59% over the Zacks Consensus Estimate of $570.16 million. With the consensus EPS estimate being $1.19, the EPS surprise was +11.76%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how SM Energy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
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Average daily production - Total: 146.4 MBOE/D versus the six-analyst average estimate of 144.84 MBOE/D.
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Average daily production - NGLs: 23.8 MBBL/D versus 23.58 MBBL/D estimated by five analysts on average.
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Average daily production - Natural gas: 358.1 MMcf/D compared to the 355 MMcf/D average estimate based on five analysts.
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Average daily production - Crude oil: 62.9 MBBL/D versus 62.13 MBBL/D estimated by five analysts on average.
View all Key Company Metrics for SM Energy here>>>
Shares of SM Energy have returned -5.6% over the past month versus the Zacks S&P 500 composite's +2.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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SM Energy Company (SM) : Free Stock Analysis Report