Pioneer Natural Resources (NYSE: PXD) reported earnings on May 2. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Pioneer Natural Resources beat expectations on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share dropped significantly.

Gross margins improved, operating margins increased, net margins shrank.

Revenue details
Pioneer Natural Resources reported revenue of $882.8 million. The nine analysts polled by S&P Capital IQ wanted to see sales of $741.9 million on the same basis. GAAP reported sales were 76% higher than the prior-year quarter's $501.0 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $1.23. The 25 earnings estimates compiled by S&P Capital IQ predicted $1.22 per share. GAAP EPS of $1.68 for Q1 were 43% lower than the prior-year quarter's $2.96 per share. (The prior-year quarter included $3.58 per share in earnings from discontinued operations.)

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 79.1%, 290 basis points better than the prior-year quarter. Operating margin was 42.5%, 5,610 basis points better than the prior-year quarter. Net margin was 24.3%, 4,530 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $796.1 million. On the bottom line, the average EPS estimate is $1.37.

Next year's average estimate for revenue is $3.33 billion. The average EPS estimate is $5.69.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 284 members out of 310 rating the stock outperform, and 26 members rating it underperform. Among 75 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 68 give Pioneer Natural Resources a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pioneer Natural Resources is outperform, with an average price target of $125.94.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.