Chesapeake Energy reports fall in quarterly profit

By Thomson Reuters Feb 20, 2024 | 3:04 PM

(Reuters) – Chesapeake Energy reported a steep decline in fourth-quarter profit on Tuesday, as the natural gas producer battled lower commodity pricing during the period as well as a decline in output.

The company reported a profit of $569 million, or $4.02 per share, for the quarter ended Dec. 30, compared with $3.51 billion, or $24 per share, a year earlier.

(Reporting by Saikeerthi in Bengaluru; Editing by Pooja Desai)