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Compared to Estimates, Permian Resources (PR) Q3 Earnings: A Look at Key Metrics
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Permian Resources (PR - Free Report) reported $758.54 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 38%. EPS of $0.36 for the same period compares to $0.41 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $721.55 million, representing a surprise of +5.13%. The company delivered an EPS surprise of -7.69%, with the consensus EPS estimate being $0.39.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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 - Total: 171,966 BOE/D versus 169,387.4 BOE/D estimated by six analysts on average.
Average daily net production volume - Natural gas: 283,351 Mcf/D versus 284,997.4 Mcf/D estimated by five analysts on average.
Average daily net production volume - NGL: 34,917 BBL/D versus the five-analyst average estimate of 35,115.57 BBL/D.
Average daily net production volume - Oil: 89,824 BBL/D versus the five-analyst average estimate of 86,813.07 BBL/D.
Average sales prices - Gas - Including Derivative Cash Settlements: $2.09 versus the three-analyst average estimate of $1.72.
Average sales prices - Oil - Including Derivative Cash Settlements: $80.61 versus $80.73 estimated by three analysts on average.
Average sales price - Oil: $79.92 versus $80.05 estimated by three analysts on average.
Average sales price - NGL: $23.67 compared to the $19.59 average estimate based on two analysts.
Average sales price - Natural gas: $1.93 versus the two-analyst average estimate of $1.46.
Shares of Permian Resources have returned +1.1% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Permian Resources (PR) Q3 Earnings: A Look at Key Metrics
Permian Resources (PR - Free Report) reported $758.54 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 38%. EPS of $0.36 for the same period compares to $0.41 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $721.55 million, representing a surprise of +5.13%. The company delivered an EPS surprise of -7.69%, with the consensus EPS estimate being $0.39.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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 - Total: 171,966 BOE/D versus 169,387.4 BOE/D estimated by six analysts on average.
- Average daily net production volume - Natural gas: 283,351 Mcf/D versus 284,997.4 Mcf/D estimated by five analysts on average.
- Average daily net production volume - NGL: 34,917 BBL/D versus the five-analyst average estimate of 35,115.57 BBL/D.
- Average daily net production volume - Oil: 89,824 BBL/D versus the five-analyst average estimate of 86,813.07 BBL/D.
- Average sales prices - Gas - Including Derivative Cash Settlements: $2.09 versus the three-analyst average estimate of $1.72.
- Average sales prices - Oil - Including Derivative Cash Settlements: $80.61 versus $80.73 estimated by three analysts on average.
- Average sales price - Oil: $79.92 versus $80.05 estimated by three analysts on average.
- Average sales price - NGL: $23.67 compared to the $19.59 average estimate based on two analysts.
- Average sales price - Natural gas: $1.93 versus the two-analyst average estimate of $1.46.
View all Key Company Metrics for Permian Resources here>>>Shares of Permian Resources have returned +1.1% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.