DENVER (AP) — DENVER (AP) — SM Energy Co. (SM) on Wednesday reported fourth-quarter net income of $258.5 million.
The Denver-based company said it had net income of $2.09 per share. Earnings, adjusted for non-recurring gains, came to $1.29 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The independent oil and gas company posted revenue of $671.3 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $600.4 million.
For the year, the company reported profit of $1.11 billion, or $8.96 per share. Revenue was reported as $3.36 billion.
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