Pioneer Natural Resources Co. (NYSE:PXD) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Pioneer Natural Resources Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 17.07% to $1.02 in the quarter versus EPS of $1.23 in the year-earlier quarter.
Revenue: Decreased 5.8% to $831.59 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pioneer Natural Resources Co. reported adjusted EPS income of $1.02 per share. By that measure, the company beat the mean analyst estimate of $0.97. It beat the average revenue estimate of $823.64 million.
Quoting Management: Scott Sheffield, Chairman and CEO, stated, “As the third largest driller in the U.S., the Company delivered another strong quarter, with production exceeding expectations. Our three liquids and resource-rich core assets in Texas, the Spraberry vertical, the horizontal Wolfcamp Shale and the Eagle Ford Shale, were the drivers of this significant increase. Importantly, oil production grew 10% in the first quarter of 2013 compared to the fourth quarter of 2012.”
Key Stats (on next page)…