Pioneer Natural Resources’ 4Q15 Earnings Beat Estimates

Pioneer Natural Resources Beat 4Q15 Earnings, Revenue Estimates

PXD’s 4Q15 earnings beat estimates

Pioneer Natural Resources (PXD) announced its 4Q15 earnings on February 10, 2016. PXD reported an adjusted loss of $0.18 per share, $0.16 better than Wall Street analysts’ consensus for a loss of $0.34 per share.

Pioneer Natural Resources’ 4Q15 earnings are lower by $0.98 per share when compared with its 4Q14 profit of $0.80 per share. Even when compared sequentially with 3Q15, PXD’s 4Q15 earnings are lower by $0.17 per share.

PXD’s 4Q15 revenues beat estimates

For 4Q15, Pioneer Natural Resources (PXD) reported adjusted revenues of ~$790 million, ~1% better than Wall Street analysts’ consensus for revenues of ~$782 million. PXD’s 4Q15 revenues are lower by ~2% when compared with 4Q14 revenues of ~$804 million. Even when compared sequentially with 3Q15, PXD’s 4Q15 revenues are lower by ~1%.

PXD’s earnings trend

As seen in the above chart, Pioneer Natural Resources reported much lower earnings in 2015 due to lower realized crude oil and natural gas prices. In 1Q15, PXD saw its adjusted earnings turn negative for the first time since 2009. In 4Q15, PXD’s adjusted earnings turned negative for the second straight time in 2015. Since 1Q13, the company has beaten the earnings expectations ~67% of the time.

Due to the steep downward trend in energy prices, almost all S&P 500 (SPY) upstream companies were impacted. For example, Murphy Oil (MUR), Occidental Petroleum (OXY), and Consol Energy (CNX) reported ~53%, ~34%, and ~18% year-over-year declines in their 4Q15 revenues, respectively.

PXD’s 2015 earnings and revenues beat estimates

For 2015, Pioneer Natural Resources (PXD) reported an adjusted loss of $0.23 per share, $0.05 better than Wall Street analysts’ consensus for a loss of $0.28 per share. Pioneer Natural Resources’ 2015 earnings are lower by $4.99 per share when compared with its 2014 profit of $4.76 per share.

For 2015, PXD reported adjusted revenues of ~$3.05 billion, ~1% better than Wall Street analysts’ consensus for revenues of ~$3.03 billion. Pioneer Natural Resources’ 2015 revenues were lower by ~15% when compared with 2014 revenues of ~$3.6 billion.

Continue to Next Part

Browse this series on Market Realist:

• Part 2 - PXD’s 4Q15 Operational Performance, Management Strategies

• Part 3 - Analysts’ Forecasts after Pioneer Natural Resources’ 4Q15 Earnings

• Part 4 - Judging Pioneer Natural Resources’ Stock Price after 4Q15 Earnings