Pioneer Natural Resources Earnings: Everything You Must Know Now

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.

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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)…

Revenue decreased 3.15% from $858.62 million in the previous quarter. EPS increased 22.89% from $0.83 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 $1.19 to a profit $1.08. For the current year, the average estimate has moved down from a profit of $5.03 to a profit of $4.60 over the last ninety days.

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