Permian Resources: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Permian Resources (NYSE:PR) reported Q3 earnings, missing estimated earnings by 65.79% with an EPS of $0.13 versus an estimate of $0.38. However, revenue was up $235.76 million from the same period last year. Last quarter, the company also missed on EPS by $0.11, which was followed by a 0.26% increase in the share price the next day.
November 07, 2023 | 9:30 pm
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NEGATIVE IMPACT
Permian Resources missed Q3 earnings estimates significantly, which could negatively impact investor sentiment and the stock price in the short term. However, the increase in revenue YoY and the historical trend of share price increase post earnings miss could offset this.
The significant miss on earnings estimates is likely to negatively impact investor sentiment and potentially the stock price. However, the increase in revenue YoY and the historical trend of the share price increasing the day after an earnings miss could offset this negative impact. The confidence in this analysis is based on the historical performance of the stock post earnings miss and the current financial results.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100