uploads///SWN Q Post Revenues

What Caused Southwestern Energy’s Yearly Revenue Growth?

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Dec. 4 2020, Updated 10:52 a.m. ET

Southwestern Energy’s 3Q17 revenues

For 3Q17, Southwestern Energy (SWN) reported revenues of ~$737 million—higher than Wall Street analysts’ consensus of ~$777 million. For 3Q17, Southwestern Energy reported natural gas revenues of ~$394 million, natural gas liquids revenues of ~$55 million, crude oil revenues of ~$22 million, and marketing and gas gathering revenues of ~$261 million. Most of Southwestern Energy’s revenues, or ~53%, came from natural gas sales.

Sequentially, Southwestern Energy’s 3Q17 revenues are ~9% lower—compared to its 2Q17 revenues of ~$811 million. On a YoY (year-over-year) basis, Southwestern Energy’s 3Q17 revenues are ~13% higher—compared to its 3Q16 revenues of ~$651 million.

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The increase in Southwestern Energy’s 3Q17 production YoY and higher realized prices for natural gas (BOIL), natural gas liquids, and crude oil (SCO) had a positive impact on its revenues. Southwestern Energy’s average realized price for natural gas rose to $1.89 per MMBtu (million British thermal units) in 3Q17 from $1.78 per MMBtu in 3Q16.

2Q17 revenues

In 2Q17, Southwestern Energy reported revenues of ~$811 million—higher than Wall Street analysts’ consensus for revenues of ~$806 million. Sequentially, its 2Q17 revenues are ~4% lower—compared to its 1Q17 revenues of ~$846 million. On a YoY basis, Southwestern Energy’s 2Q17 revenues are ~55% higher—compared to its 2Q16 revenues of ~$522 million.

Southwestern Energy’s revenues in context

Compared to Southwestern Energy’s revenues of $737 million in 3Q17, ConocoPhillips (COP) reported revenues of ~$7.20 billion in the quarter. Its revenues were higher than analysts’ consensus of ~$6.45 billion. On a YoY basis, its 3Q17 revenues are ~10% higher—compared to its 3Q16 revenues of ~$6.52 billion. The ISE-Revere Natural Gas Index Fund (FCG) invests in natural gas producers.

In the next part, we’ll discuss Southwestern Energy’s operational performance in 3Q17.

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