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Permian Resources (PR) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Permian Resources (PR - Free Report) reported $623.4 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 31.9%. EPS of $0.27 for the same period compares to $0.61 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $649.01 million, representing a surprise of -3.95%. The company delivered an EPS surprise of -18.18%, with the consensus EPS estimate being $0.33.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Permian Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average daily net production volume - Natural gas: 275734 Mcf/D compared to the 275280.2 Mcf/D average estimate based on four analysts.
Average daily net production - Total: 15093 BOE/D versus 161817.6 BOE/D estimated by four analysts on average.
Average daily net production volume - NGL: 35502 BBL/D compared to the 31992.46 BBL/D average estimate based on four analysts.
Average daily net production volume - Oil: 84393 BBL/D versus 83945.07 BBL/D estimated by four analysts on average.
Average sales prices - Gas - Including Derivative Cash Settlements: $1.76 versus the three-analyst average estimate of $1.68.
Average sales prices - Oil - Including Derivative Cash Settlements: $74.94 versus $80.23 estimated by three analysts on average.
Average sales price - NGL: $20.73 compared to the $19.22 average estimate based on three analysts.
Average sales price - Oil: $71.52 versus $78.80 estimated by three analysts on average.
Average sales price - Natural gas: $1.24 versus $1.56 estimated by two analysts on average.
Shares of Permian Resources have returned +7.3% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Permian Resources (PR) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Permian Resources (PR - Free Report) reported $623.4 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 31.9%. EPS of $0.27 for the same period compares to $0.61 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $649.01 million, representing a surprise of -3.95%. The company delivered an EPS surprise of -18.18%, with the consensus EPS estimate being $0.33.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Permian Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average daily net production volume - Natural gas: 275734 Mcf/D compared to the 275280.2 Mcf/D average estimate based on four analysts.
- Average daily net production - Total: 15093 BOE/D versus 161817.6 BOE/D estimated by four analysts on average.
- Average daily net production volume - NGL: 35502 BBL/D compared to the 31992.46 BBL/D average estimate based on four analysts.
- Average daily net production volume - Oil: 84393 BBL/D versus 83945.07 BBL/D estimated by four analysts on average.
- Average sales prices - Gas - Including Derivative Cash Settlements: $1.76 versus the three-analyst average estimate of $1.68.
- Average sales prices - Oil - Including Derivative Cash Settlements: $74.94 versus $80.23 estimated by three analysts on average.
- Average sales price - NGL: $20.73 compared to the $19.22 average estimate based on three analysts.
- Average sales price - Oil: $71.52 versus $78.80 estimated by three analysts on average.
- Average sales price - Natural gas: $1.24 versus $1.56 estimated by two analysts on average.
View all Key Company Metrics for Permian Resources here>>>Shares of Permian Resources have returned +7.3% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.