Pioneer Natural Resources
The 10-second takeaway
For the quarter ended March 31 (Q1), Pioneer Natural Resources met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share shrank significantly. GAAP earnings per share shrank significantly.
Margins dropped across the board.
Pioneer Natural Resources logged revenue of $831.6 million. The 16 analysts polled by S&P Capital IQ expected revenue of $831.7 million on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $725.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.02. The 30 earnings estimates compiled by S&P Capital IQ predicted $0.99 per share. Non-GAAP EPS of $1.02 for Q1 were 17% lower than the prior-year quarter's $1.23 per share. (The prior-year quarter included $0.08 per share in earnings from discontinued operations.) GAAP EPS of $0.75 for Q1 were 55% lower than the prior-year quarter's $1.65 per share. (The prior-year quarter included $0.08 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 73.1%, 70 basis points worse than the prior-year quarter. Operating margin was 26.4%, much worse than the prior-year quarter. Net margin was 12.1%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $885.9 million. On the bottom line, the average EPS estimate is $1.09.
Next year's average estimate for revenue is $3.67 billion. The average EPS estimate is $4.65.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 285 members out of 311 rating the stock outperform, and 26 members rating it underperform. Among 66 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 60 give Pioneer Natural Resources a green thumbs-up, and six 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 $137.11.
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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. The Motley Fool has no position in any of the stocks mentioned. 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.