Pioneer Energy Services Earnings: Here’s Why the Stock is Up Now

Pioneer Energy Services Corp. (NYSE:PES) 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. Shares are up 1.29%.

Pioneer Energy Services Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 86.67% to $0.02 in the quarter versus EPS of $0.15 in the year-earlier quarter.

Revenue: Rose 8.08% to $248.4 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Pioneer Energy Services Corp. reported adjusted EPS income of $0.02 per share. By that measure, the company beat the mean analyst estimate of $-0.04. It beat the average revenue estimate of $232.93 million.

Quoting Management: “We saw steady activity in our Production Services Segment which resulted in improved utilization for all our business units in this segment quarter over quarter,” said Wm. Stacy Locke, President and CEO of Pioneer Energy Services. “Pricing showed modest improvement for well servicing in the second quarter, but was flat to slightly down for wireline services and coiled tubing services.”

Key Stats (on next page)…

Revenue increased 8.16% from $229.67 million in the previous quarter. EPS increased to $0.02 in the quarter versus EPS of $-0.02 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from $0 to a loss $0.01. For the current year, the average estimate has moved down from a loss of $0.05 to a loss of $0.09 over the last ninety days.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at]