SPRING, Texas (AP) — SPRING, Texas (AP) — Southwestern Energy Co. (SWN) on Thursday reported a loss of $1.54 billion in its first quarter.

On a per-share basis, the Spring, Texas-based company said it had a loss of $1.39. Earnings, adjusted for one-time gains and costs, were 12 cents per share.

The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The independent oil and gas company posted revenue of $1.42 billion in the period, which also did not meet Street forecasts. Eight analysts surveyed by Zacks expected $1.46 billion.

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