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Permian Resources (PR)
NYSE:PR
Holding PR?
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.35Last Year’s EPS
0.45Same Quarter Last Year
Strong Buy
Based on 14 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2018
|% Change Since: 9.78%
|Next Earnings Date:Aug 06, 2018
Earnings Call Sentiment|Positive
The earnings call reflects a strong operational and financial performance, with significant improvements in production efficiency and cost reductions leading to higher-than-expected production and strong cash flow. However, challenges persist in natural gas pricing and contributions, which the company aims to address in the future.Company Guidance
During the third quarter 2024 earnings call, Permian Resources provided optimistic guidance, highlighting key metrics such as an increase in full-year oil production guidance by 11,000 barrels per day compared to the initial forecast, reaching a Q3 oil production of 161,000 barrels per day and total production of 347,000 barrels of oil equivalent per day. The company maintained its CapEx guidance despite these production increases, attributing the gains to operational efficiencies and effective mergers and acquisitions, such as the Barilla Draw acquisition. The call emphasized continued cost reductions, with Q3 lease operating expenses (LOE) at $5.43 per BOE, cash G&A at $0.95 per BOE, and gathering, processing, and transportation (GP&T) costs at $1.57 per BOE. Adjusted operating cash flow stood at $823 million, with adjusted free cash flow at $303 million, highlighting Permian Resources' strong financial performance and focus on shareholder value through strategic capital management and efficiency improvements.Production and Cost Efficiency
Q3 oil production exceeded expectations at 161,000 barrels per day, with total production at 347,000 barrels of oil equivalent per day. The company raised its full-year oil guidance by 11,000 barrels per day compared to initial guidance in February, with strong performance attributed to D&C efficiency gains. Q3 LOE was $5.43 per BOE, cash G&A was $0.95 per BOE, and GP&T was $1.57 per BOE.
Financial Performance and Free Cash Flow
Q3 adjusted operating cash flow was $823 million, and adjusted free cash flow was $303 million. The company increased its base dividend by 150% to $0.60 per share annually, and buyback authorization was raised from $500 million to $1 billion.
Cost Reductions and Operational Efficiency
Set a record with 13 days spud to rig release, allowing the company to increase well completions at a lower cost. Q3 TILs were 15% cheaper than last year on a per foot basis, translating to over $1 million per well in savings.
Balance Sheet Strength
Maintained leverage at 1x while increasing liquidity to almost $2.8 billion. The company aims for investment-grade ratings in 2025 and was upgraded by all three agencies in the past quarter.
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PR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $14.42 | $14.82 | +2.77% |
| Aug 06, 2024 | $13.39 | $13.55 | +1.19% |
| May 07, 2024 | $16.92 | $16.65 | -1.60% |
| Feb 27, 2024 | $14.53 | $14.82 | +2.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Permian Resources (PR) report earnings?
Permian Resources (PR) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Permian Resources (PR) earnings time?
Permian Resources (PR) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PR EPS forecast?
PR EPS forecast for the fiscal quarter 2024 (Q4) is 0.35.
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