Plains Exploration & Production Earnings: Here’s Why Investors are Ambivalent Now

Plains Exploration & Production Company (NYSE:PXP) 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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Plains Exploration & Production Company Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 75% to $1.05 in the quarter versus EPS of $0.60 in the year-earlier quarter.

Revenue: Rose 135.01% to $1.23 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Plains Exploration & Production Company reported adjusted EPS income of $1.05 per share. By that measure, the company beat the mean analyst estimate of $0.82. It beat the average revenue estimate of $1.15 billion.

Quoting Management: There was no comment from the management.

Key Stats (on next page)…

Revenue increased 41.75% from $869.2 million in the previous quarter. EPS increased 156.1% from $0.41 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 $0.87 to a profit $0.77. For the current year, the average estimate has moved down from a profit of $3.67 to a profit of $3.26 over the last ninety days.

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