Pioneer Natural (PXD) Q4 Earnings Beat, Reserves Increase
Zacks Investment Research | Feb 06, 2018 10:00PM ET
Pioneer Natural Resources Company (NYSE:PXD) reported fourth-quarter 2017 earnings, excluding one-time items, of $1.22 per share. The bottom line beat the Zacks Consensus Estimate of 76 cents. Notably, the company posted adjusted earnings of 49 cents per share in the year-earlier quarter.
Revenues and other income in the quarter improved 30.6% year over year to $1,526 million from $1,168 million. However, the top line lagged the Zacks Consensus Estimate of $1,716 million.
Higher oil and liquids price realizations and production along with Spraberry/Wolfcamp horizontal drilling program drove fourth-quarter results.
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