NASDAQ$PR
Permian Resources Corp · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Permian Resources reported strong financial and operational results for Q3 2024, driven by increased production and reduced costs.
Permian Resources announced strong Q3 2024 results, with average daily crude oil production of 160,801 Bbls/d and total production of 347,091 Boe/d. The company reduced D&C costs to approximately $800 per lateral foot and increased its full-year production guidance. They generated $954 million in net cash from operating activities and $303 million in adjusted free cash flow.
- Crude oil production averaged 160,801 Bbls/d and total production averaged 347,091 Boe/d.
- D&C costs reduced to ~$800 per lateral foot, a 16% decrease from 2023.
- Quarterly base dividend increased by 150% to $0.15 per share.
- Full year oil and total production guidance increased by over 4%.
Headline financials
Revenue & EPS history
Permian Resources · Revenue · Quarterly
$1.22B
Revenue by segment
Permian Resources · $759M total across 3 segments · Q3 2023
- Oil Sales$660M+66.3%87.1%
- NGL Sales$59.7M+1.0%7.9%
- Natural Gas Sales$38.4M-59.0%5.1%
Forward guidance
Permian Resources increased its 2024 oil production target to 158.5 MBbls/d and raised its total production target to 341.0 MBoe/d. The company is also adjusting the expected number of turn-in-lines (“TILs”) for 2024 to approximately 270 gross wells.
Tailwinds
- Increased oil production target by 6.5 MBbls/d to 158.5 MBbls/d.
- Raised total production target by 16.0 MBoe/d to 341.0 MBoe/d.
- Adjusting the expected number of turn-in-lines (“TILs”) for 2024 to approximately 270 gross wells.
- Majority of the increase in full year production guidance is driven by continued strong well performance and operational efficiencies.
- The balance of the increase is coming from the recently closed Barilla Draw acquisition.
Headwinds
- No specific negatives were mentioned in the provided text.
- No specific negatives were mentioned in the provided text.
- No specific negatives were mentioned in the provided text.
- No specific negatives were mentioned in the provided text.
- No specific negatives were mentioned in the provided text.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-1.1%
Avg return
Earnings day
-0.5%
Avg return
5 days after
-4.1%
Avg return
30 days after
59%
22 / 37 earnings
Positive
+14.9%
Q2 2020
Best reaction
-21.6%
Q4 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.4% | -10.1% | -14.5% | |
| Q4 2025 | +3.0% | +4.4% | +22.9% | |
| Q3 2025 | +5.6% | +11.6% | +23.0% | |
| Q1 2025 | +9.2% | +17.3% | +14.3% | |
| Q4 2024 | +2.6% | -5.3% | +0.6% | |
| Q3 2024 | +7.8% | +8.8% | +5.6% | |
| Q2 2024 | +3.3% | +8.7% | +0.3% | |
| Q1 2024 | -0.6% | -4.6% | -10.9% | |
| Q4 2023 | +2.1% | +5.6% | +16.2% | |
| Q3 2023 | -7.0% | -6.5% | -10.4% | |
| Q2 2023 | -0.6% | +3.7% | +23.8% | |
| Q1 2023 | -7.0% | -6.9% | +3.7% | |
| Q4 2022 | +13.4% | +19.8% | +2.9% | |
| Q3 2022 | -11.9% | -3.1% | -21.7% | |
| Q2 2022 | +3.0% | +5.7% | +26.6% | |
| Q1 2022 | +4.5% | +3.2% | -7.9% | |
| Q4 2021 | +5.5% | +9.6% | +9.8% | |
| Q3 2021 | +2.0% | +4.0% | -24.3% | |
| Q2 2021 | -8.0% | -6.4% | +3.4% | |
| Q1 2021 | +10.3% | +4.9% | +4.4% | |
| Q4 2020 | +3.4% | +4.9% | +10.1% | |
| Q3 2020 | -8.7% | -10.6% | +85.8% | |
| Q2 2020 | +14.9% | +10.0% | -16.4% | |
| Q1 2020 | -6.1% | -9.4% | +24.9% | |
| Q4 2019 | -21.6% | -18.8% | -86.3% | |
| Q2 2019 | -21.6% | -18.8% | -86.3% | |
| Q3 2019 | +2.3% | +2.6% | -3.2% | |
| Q1 2019 | -6.4% | -2.5% | -26.3% | |
| Q2 2018 | -21.6% | -26.1% | -28.4% | |
| Q4 2018 | -21.6% | -26.1% | -28.4% | |
| Q3 2018 | +1.9% | -5.2% | -18.3% | |
| Q1 2018 | +7.7% | +3.0% | -9.5% | |
| Q2 2017 | +1.8% | +5.2% | -7.1% | |
| Q4 2017 | +1.8% | +5.2% | -7.1% | |
| Q3 2017 | -3.4% | -2.6% | -9.0% | |
| Q1 2017 | +1.6% | +2.6% | -7.7% | |
| Q4 2016 | +1.6% | +2.6% | -7.7% |
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