SM Energy Reports Second Quarter 2020 Results and Updates 2020 Operating Plan
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SM Energy (SM) Misses Q2 EPS by 29c, Revenues Miss; Provides FY20 Fiscal Guidance
July 30, 2020 4:39 PM EDTSM Energy (NYSE: SM) reported Q2 EPS of ($0.79), $0.29 worse than the analyst estimate of ($0.50). Revenue for the quarter came in at $169.63 million versus the consensus estimate of $291.27 million.
During the second quarter of 2020, the Company focused on its priorities of:
Capital discipline. Capital expenditures were 26% below guidance primarily reflecting lower costs as well as timing of certain activity. Capital expenditures of $170.9 million adjusted for decreased capital accruals of $45.7 million totaled $125.2 million.Significant cash flows. Second quarter net cash provided by operating activities of $114.3 million before net change in working capital of $38.7... More