Southwestern Energy Company (SWN)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	1,300,000	5,154,000	5,549,000	6,522,000	1,900,000	1,350,000	-968,000	-2,776,000	-25,000	-2,477,000	-1,213,000	-1,484,000	-2,705,000	-2,514,000	-1,862,000	-829,000	480,000	688,000	600,000	498,000
Revenue (ttm)	US$ in thousands	8,794,000	11,293,000	12,381,000	14,036,000	13,515,000	12,635,000	11,645,000	8,587,000	6,494,000	3,376,000	2,091,000	2,228,000	2,318,000	2,284,000	2,697,000	3,215,000	3,219,000	3,649,000	3,780,000	3,716,000
Pretax margin		14.78%	45.64%	44.82%	46.47%	14.06%	10.68%	-8.31%	-32.33%	-0.38%	-73.37%	-58.01%	-66.61%	-116.70%	-110.07%	-69.04%	-25.79%	14.91%	18.85%	15.87%	13.40%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,300,000K ÷ $8,794,000K
= 14.78%

The pretax margin of Southwestern Energy Company has varied significantly over the past eight quarters, with the highest level recorded in Q3 2023 at 62.78% and the lowest level in Q1 2022 at -32.51%. The company experienced a notable improvement in pretax margin from Q1 2023 to Q3 2023, indicating a more efficient management of expenses relative to revenue generation during this period. However, the pretax margin in Q4 2023 decreased to 19.93%, suggesting a slight decline in profitability compared to the previous quarter. Overall, the trend in pretax margin demonstrates fluctuations in the company's ability to generate profits before taxes, reflecting changes in operational efficiency and cost management strategies.