Pioneer Natural Resources Co. Earnings: Everything You Must Know Now

Pioneer Natural Resources Co. (NYSE:PXD) delivered a profit and missed Wall Street’s expectations, BUT 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 to $0.83 in the quarter versus EPS of $1.17 in the year-earlier quarter.

Revenue: Rose 27.88% to $818.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Pioneer Natural Resources Co. reported adjusted EPS income of $0.83 per share. By that measure, the company missed the mean analyst estimate of $0.87. It beat the average revenue estimate of $787.34 million.

Quoting Management: Scott Sheffield, Chairman and CEO, stated, “Pioneer had another great year in 2012. We delivered strong production and reserve growth, while continuing to be among the top performers in our peer group in total shareholder return. Our extensive Midland Basin geologic analysis has identified multiple prospective horizontal targets throughout Pioneer’s extensive 900,000-acre Wolfcamp/Spraberry leasehold position with an aggregate estimated resource potential of more than 4.6 BBOE. During 2012, we focused on appraising and developing the southern 200,000 acres of the play. This culminated in the signing of the joint interest agreement with Sinochem that will allow horizontal development of the Wolfcamp Shale in this area to be accelerated. We were also able to begin drilling horizontal wells on our northern acreage to appraise the potential of the horizontal Wolfcamp Shale in this area. Early results are extremely encouraging, and we are initiating a $1 billion dollar appraisal program for 2013 and 2014 to confirm the estimated 3.0 BBOE of resource potential we believe exists in our northern acreage, which should add substantial net asset value to the Company.”

Key Stats (on next page)…

Revenue increased 35.68% from $603.4 million in the previous quarter. EPS increased 1.22% from $0.82 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 a profit of $1.15 to a profit $1.09. For the current year, the average estimate has moved down from a profit of $3.92 to a profit of $3.75 over the last ninety days.

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