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Peyto Exploration & Dev (TSE:PEY)
TSX:PEY
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Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.48Last Year’s EPS
0.46Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2018
|% Change Since: 8.90%
|Next Earnings Date:Aug 08, 2018
Earnings Call Sentiment|Positive
The earnings call presented a generally positive outlook with strong operational execution, successful hedging strategies, and improved well productivity. However, challenges remain with low AECO prices and increased operating costs.Company Guidance
During the Peyto Exploration & Development Corp. earnings call for Q3 2024, the company provided a detailed financial and operational update, highlighting several key metrics. Peyto reported $154 million in funds from operations, maintaining stability from the previous quarter despite low AECO prices averaging $0.65/GJ. The company's mechanistic hedging policy significantly contributed to this outcome, yielding returns about four times the daily AECO price, which underscores Peyto's strategy to mitigate commodity price volatility. The company aims to reduce operating expenses by 10% from Q1 levels by year-end and reported cash costs of $1.44 per Mcfe for the quarter, an improvement driven by lower royalties and G&A expenses. Production efficiency improvements were also notable, with average sustained production increasing by 25% compared to prior years, and a 40% productivity improvement on acquired Repsol lands, doubling production from 23,000 to 46,000 BOEs per day. Looking ahead, Peyto plans to spend $450 to $500 million in 2025 on a 70 to 80 well drilling program, targeting a production increase of 43,000 to 48,000 BOEs per day to offset a projected 26% to 28% decline rate. The company also highlighted its commitment to maintaining low cash costs and high operating margins, and achieving a new monthly production high of 130,000 BOEs per day in October, with an exit target of 135 BOEs per day.Successful Execution of Major Turnaround
The Edson gas plant underwent a major turnaround safely and efficiently, reflecting excellent planning and execution.
Strong Hedging and Financial Performance
Peyto delivered $154 million of funds from operations despite low AECO prices, aided by a disciplined hedging policy that yielded about four times the AECO daily price.
Improved Well Productivity
The average sustained production from the total program showed a 25% improvement compared to previous years without increasing drilling and completion costs.
Successful Repsol Lands Drilling
Drilling on Repsol lands resulted in a 40% productivity improvement, doubling production from the asset within a year.
Industry-Leading Operating Margin
Peyto achieved an operating margin of 64%, which is considered high for a gas producer.
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TSE:PEY 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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TSE:PEY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | C$15.05 | C$15.05 | 0.00% |
| Aug 13, 2024 | C$14.22 | C$14.25 | +0.21% |
| May 14, 2024 | C$14.37 | C$14.26 | -0.77% |
| Mar 07, 2024 | C$13.72 | C$13.81 | +0.66% |
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 Peyto Exploration & Dev (TSE:PEY) report earnings?
Peyto Exploration & Dev (TSE:PEY) is schdueled to report earning on Mar 11, 2025, TBA Not Confirmed.
What is Peyto Exploration & Dev (TSE:PEY) earnings time?
Peyto Exploration & Dev (TSE:PEY) earnings time is at Mar 11, 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 TSE:PEY EPS forecast?
TSE:PEY EPS forecast for the fiscal quarter 2024 (Q4) is 0.48.
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