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![SOUTHWESTERN ENERGY CO [SWN] reports annual net loss of $1.6 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FSWN.png&w=1200&q=75)
SOUTHWESTERN ENERGY CO [SWN] has reported a net loss of $1.6 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $6.5 billion
Based in SPRING, Texas, SOUTHWESTERN ENERGY CO operates in the MINING sector.
The consolidated statement of operations for the period ending December 31, 2023, shows total operating revenues of $6.522 billion, a decrease from the previous year's $15.002 billion. Operating costs and expenses totaled $7.496 billion, compared to $7.648 billion in the prior period. This resulted in an operating loss of $974 million for the current period, a significant decrease from the operating income of $7.354 billion in the same period last year.
Interest expenses for the current period amounted to $142 million, lower than the $184 million in the previous year. There was a gain on derivatives of $2.433 billion, a positive reversal from the loss of $5.259 billion in the prior year. Net income for the current period was $1.557 billion, down slightly from $1.849 billion in the same period last year.
Earnings per common share for the current period stand at $1.41 for both basic and diluted amounts, compared to $1.67 and $1.66, respectively, in the previous year. The weighted average common shares outstanding for basic and diluted calculations also saw a slight decrease compared to the previous year.
For Gas sales, total operating revenues for the current period were $3.089 billion, lower than the previous year's $9.101 billion. Oil sales generated $379 million in revenue, down from $439 million in the prior year. NGL sales brought in $702 million in revenue compared to $1.046 billion in the previous year. Marketing operations saw total revenues of $2.355 billion, a decrease from $4.419 billion in the prior year. Other operating revenues showed a negative amount of $(3) million for the current period.
Overall, the financial performance of the company in the current period reflects a decline in revenues and net income compared to the same period in the previous year.
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