Wrong market to report missing First Call's numbers. SFY takes a beating like END, gapping down nearly $2.
<<Swift Energy Company Reports Q4 EPS of $0.26 vs $0.29 Est; Revenue of $157.90M vs $155.46M Est
6:05a ET February 21, 2013 (Benzinga)
Swift Energy Company (NYSE: SFY) reports Q4 EPS of $0.26 versus the estimated $0.29, missing by $0.03. EPS were Down 46% from the same quarter last year. Revenue came in at $157.90M versus the estimated $155.46M. Sales were Up 2% year over year.
Swift gets mugged
Re: Swift gets mugged
I will take a closer look tomorrow but everything beat my forecast model, so I think today's dip was all about overall market selloff and not a reflection of what SFY is doing. Revenues, EPS and CFPS (most important) all beat my forecast. SFY should generate over $8/share in cash flow in 2013. - Dan
Swift Energy Company (SFY) announced today earnings from continuing operations of $11.2 million for the fourth quarter of 2012, or $0.26 per diluted share, a 46% decrease when compared to fourth quarter 2011 earnings from continuing operations of $20.7 million, or $0.48 per diluted share, and an increase of 259% when compared to earnings of $3.1 million in the third quarter of 2012.
Adjusted cash flow (cash flow before working capital changes, a non-GAAP measure - see page 9 for reconciliation to the GAAP measure) for the fourth quarter of 2012 decreased 8% to $91.4 million, or $2.13 per diluted share, compared to $99.4 million, or $2.33 per diluted share, for the fourth quarter 2011, and increased 28% when compared to adjusted cash flow of $71.2 million, or $1.66 per diluted share, for the third quarter of 2012.
Swift Energy produced 3.11 million barrels of oil equivalent (“MMBoe”) during the fourth quarter of 2012, a 15% increase over fourth quarter 2011 production, and an 8% sequential increase compared to third quarter 2012 production of 2.87 MMBoe.
Oil and natural gas proved reserve estimates at year-end 2012 of 192.1 MMBoe were 20% higher than 2011 year-end proved reserve estimates of 159.6 MMBoe. Crude oil and natural gas liquids comprised approximately 48% of year-end 2012 proved reserves, up significantly from the approximate 36% of total proved reserves at year-end 2011. This record level of year-end proved reserves for the Company is primarily due to its 2012 drilling program in the liquids rich portions of its South Texas core area.
Terry Swift, CEO of Swift Energy, commented, “The Company continued transitioning its production volumes to higher margin crude oil and natural gas liquids production. During the fourth quarter, total liquids production increased 20% over fourth quarter 2011 levels and made up 53% of fourth quarter production.
Swift Energy Company (SFY) announced today earnings from continuing operations of $11.2 million for the fourth quarter of 2012, or $0.26 per diluted share, a 46% decrease when compared to fourth quarter 2011 earnings from continuing operations of $20.7 million, or $0.48 per diluted share, and an increase of 259% when compared to earnings of $3.1 million in the third quarter of 2012.
Adjusted cash flow (cash flow before working capital changes, a non-GAAP measure - see page 9 for reconciliation to the GAAP measure) for the fourth quarter of 2012 decreased 8% to $91.4 million, or $2.13 per diluted share, compared to $99.4 million, or $2.33 per diluted share, for the fourth quarter 2011, and increased 28% when compared to adjusted cash flow of $71.2 million, or $1.66 per diluted share, for the third quarter of 2012.
Swift Energy produced 3.11 million barrels of oil equivalent (“MMBoe”) during the fourth quarter of 2012, a 15% increase over fourth quarter 2011 production, and an 8% sequential increase compared to third quarter 2012 production of 2.87 MMBoe.
Oil and natural gas proved reserve estimates at year-end 2012 of 192.1 MMBoe were 20% higher than 2011 year-end proved reserve estimates of 159.6 MMBoe. Crude oil and natural gas liquids comprised approximately 48% of year-end 2012 proved reserves, up significantly from the approximate 36% of total proved reserves at year-end 2011. This record level of year-end proved reserves for the Company is primarily due to its 2012 drilling program in the liquids rich portions of its South Texas core area.
Terry Swift, CEO of Swift Energy, commented, “The Company continued transitioning its production volumes to higher margin crude oil and natural gas liquids production. During the fourth quarter, total liquids production increased 20% over fourth quarter 2011 levels and made up 53% of fourth quarter production.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group