Pioneer Natural Resources
The 10-second takeaway
For the quarter ended June 30 (Q2), Pioneer Natural Resources crushed expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share grew.
Gross margins expanded, operating margins shrank, net margins expanded.
Pioneer Natural Resources tallied revenue of $1.18 billion. The 10 analysts polled by S&P Capital IQ looked for a top line of $898.0 million on the same basis. GAAP reported sales were 98% higher than the prior-year quarter's $596.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $1.10. The 32 earnings estimates compiled by S&P Capital IQ averaged $1.13 per share. Non-GAAP EPS of $1.10 for Q2 were 41% higher than the prior-year quarter's $0.78 per share. (The prior-year quarter included -$2.32 per share in earnings from discontinued operations.) GAAP EPS were $2.40 for Q2 compared to -$0.57 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 80.3%, much better than the prior-year quarter. Operating margin was 49.6%, much worse than the prior-year quarter. Net margin was 28.5%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $964.4 million. On the bottom line, the average EPS estimate is $1.32.
Next year's average estimate for revenue is $3.72 billion. The average EPS estimate is $4.84.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 288 members out of 314 rating the stock outperform, and 26 members rating it underperform. Among 67 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 61 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 $152.82.
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