AP NEWS

Pioneer Natural Resources: 3Q Earnings Snapshot

November 6, 2018

IRVING, Texas (AP) _ Pioneer Natural Resources Co. (PXD) on Tuesday reported third-quarter net income of $411 million, after reporting a loss in the same period a year earlier.

The Irving, Texas-based company said it had net income of $2.39 per share. Earnings, adjusted for non-recurring gains, were $2.07 per share.

The results topped Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.

The independent oil and gas company posted revenue of $2.48 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $2.28 billion.

Pioneer Natural Resources shares have declined 14 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 3 percent. In the final minutes of trading on Tuesday, shares hit $148.52, a decrease of 6.5 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PXD at https://www.zacks.com/ap/PXD

AP RADIO
Update hourly