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Southwestern Energy's Q3 adjusted income drops but tops estimates

Southwestern Energy Co. on Oct. 24 reported $44.0 million, or 8 cents per share, in third-quarter adjusted net income, compared to $146.0 million, or 25 cents per share, in the prior-year quarter.

The S&P Global Market Intelligence consensus normalized earnings estimate for the third quarter was 7 cents per share.

Net income attributable to common stock was $49.0 million, compared to a loss of $29.0 million a year earlier. Southwestern posted operating revenue of $636.0 million, compared to $951.0 million in the year-ago period.

The Appalachian shale gas driller reported total production of 202 Bcfe, compared to 252 Bcfe in the third quarter a year ago.