Permian Resources: Fourth Quarter Earnings Overview

Permian Resources Reports Fourth-Quarter Earnings

Permian Resources Corporation, headquartered in Midland, Texas, announced on Wednesday that it earned $339.5 million during the fourth quarter.

The company’s earnings translated to 45 cents per share, while adjusted earnings—excluding one-time gains—were 37 cents per share.

These adjusted results surpassed analysts’ expectations, as a consensus of eight analysts polled by Zacks Investment Research had forecasted earnings of 28 cents per share.

However, quarterly revenue reached $1.17 billion, which fell short of the $1.28 billion anticipated by six analysts surveyed by Zacks.

For the full year, Permian Resources reported a net income of $935.2 million, or $1.28 per share, with total revenue amounting to $5.07 billion.