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Southwestern Energy Q2 adjusted income plummets, misses estimates

Southwestern Energy Co. on Aug. 6 reported $40.0 million, or 8 cents per share, in adjusted net income for the second quarter, compared to $105.0 million, or 18 cents per share, in the year-ago quarter.

The S&P Global Market Intelligence consensus normalized earnings estimate for the second quarter was 9 cents per share.

Net income totaled $138.0 million, compared to $51.0 million a year earlier. Southwestern recorded revenue of $667.0 million in the second quarter, compared to $816.0 million in the second quarter a year ago.

The company's production totaled 186 Bcfe in the second quarter, compared to 234 Bcfe a year earlier.

Southwestern is an independent energy company whose subsidiaries are engaged in natural gas, NGL and oil exploration, development, production and gathering.