Permian Resources Q4 Earnings Beat Estimates, Revenues Miss

Permian Resources Corporation PR reported a fourth-quarter 2025 adjusted net income per share of 37 cents, which beat the Zacks Consensus Estimate of 28 cents. The bottom line also increased from the year-ago quarter’s reported figure of 36 cents. This outperformance was driven by a rise in production volumes.

Meanwhile, Permian Resources’ oil and gas sales of $1.2 billion decreased 9.8% from the year-ago quarter and missed the Zacks Consensus Estimate by 9%.

Permian Resources Corporation Price, Consensus and EPS Surprise

Permian Resources Corporation price-consensus-eps-surprise-chart | Permian Resources Corporation Quote

On Feb. 25, 2026, Permian Resources announced that its board had approved a first-quarter 2026 base dividend of 16 cents per Class A share, up 7% from the prior 15 cents. The dividend will be paid on March 31, 2026, to its shareholders on record as of March 17.

PR’s Production & Price Realizations

The average daily fourth-quarter production (comprising 47% oil) was up 9% from the year-ago level to 401,475 barrels of oil equivalent (Boe) but missed the Zacks Consensus Estimate of 403,909 Boe.

Oil volume for the period was 188,633 barrels per day (Bbls/d), up 10.1% year over year. The consensus mark was pegged at 188,760 Bbls/d. PR’s natural gas production was 664,265 thousand cubic feet (Mcf) per day, while NGL output totaled 102,131 Bbls/d.

The average sales price for oil during the fourth quarter was $58.78 per barrel, down 15.6% from the prior-year realization of $69.66. The figure beat the consensus mark of $58.60.

The company reported a negative average sales price of 23 cents per Mcf for natural gas in the fourth quarter compared with a positive price of 37 cents in the year-earlier period. The figure also missed the Zacks Consensus Estimate of a positive sales price of 3 cents.

Meanwhile, the average realized NGL price was $15.44 per barrel, down from $21.03 realized in the fourth quarter of 2024.

Costs & Expenses for PR

Total operating expenses in the quarter rose to $899.5 million from $870.8 million in the year-ago quarter. This was primarily due to a 5.8% year-over-year increase in lease operating costs, which rose to $194.2 million and a 7.9% rise in depreciation, depletion and amortization, which totaled $525 million.

PR’s Financial Position

Adjusted cash flow from operations increased 2.3% to $883.6 million, while Permian Resources’ capital expenditure totaled $480.5 million, leading to adjusted free cash flow of $403.1 million.

As of Dec. 31, PR had $153.7 million in cash and cash equivalents. The company had a long-term debt of $3.5 billion, reflecting a debt-to-capitalization of 25.6%.

PR’s Guidance for 2026

This Zacks Rank #3 (Hold) company outlined a highly capital-efficient 2026 financial and operating plan supported by steady well performance, reduced drilling costs and industry-leading controllable cash expenses. PR expects crude oil production to be between 186 and 192 MBbls/d and total average production to be between 400 and 430 MBoe/d, implying roughly 4% year-over-year oil growth versus 2025. It has set a total cash capital expenditure budget of $1.75 to $1.95 billion and projects controllable cash costs of $7.15 to $8.15 per Boe. Additionally, the quarterly base dividend was raised 7% to 16 cents per share, equating to a 3.6% annualized yield.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Important Earnings at a Glance

While we have discussed PR’s fourth-quarter results in detail, let us take a look at three other key reports in this space.

TechnipFMC plc FTI reported fourth-quarter 2025 adjusted earnings of 70 cents per share, which beat the Zacks Consensus Estimate of 51 cents. The bottom line also increased from the year-ago quarter’s reported profit of 54 cents. The outperformance is primarily driven by strong results in both the Subsea and the Surface Technologies segments.

Newcastle & Houston-based oil and gas equipment and services provider’s revenues of $2.5 billion missed the Zacks Consensus Estimate by $25 million. However, the top line increased from the year-ago quarter’s reported figure of $2.4 billion.

As of Dec. 31, 2025, FTI had cash and cash equivalents worth $1 billion and long-term debt of $395.7 million, with a debt-to-capitalization of 10.5%.

ProPetro Holding Corp. PUMP reported a fourth-quarter 2025 adjusted profit per share of 1 cent, which beat the Zacks Consensus Estimate of a loss of 13 cents. The bottom line also improved from the year-ago loss of 1 cent per share, backed by a 16.3% year-over-year decline in costs and expenses.

Revenues of $290 million beat the consensus mark of $280 million. This improvement can be attributed to better-than-expected service revenues in the Wireline and Hydraulic Fracturing segments. Revenues in the Wireline segment reached $55.4 million, surpassing the consensus estimate by 7.4%. Revenues in the Hydraulic Fracturing segment reached $203.9 million, surpassing the consensus estimate by 1.4%. However, the top line decreased 9.6% from the year-ago quarter’s level of $321 million. This was due to a year-over-year decline in service revenues from the Hydraulic Fracturing and Cementing segments.

As of Dec. 31, 2025, PUMP had $91.3 million in cash and cash equivalents and $45 million in borrowings under its ABL Credit Facility.

Ovintiv Inc. OVV reported fourth-quarter 2025 adjusted earnings per share of $1.39, which beat the Zacks Consensus Estimate of 98 cents. The bottom line also increased from the year-ago level of $1.35. The outperformance was driven by higher plant condensate, natural gas liquids and natural gas production volumes and higher average realized natural gas prices.

The Denver, CO-based oil and gas exploration and production company’s total revenues of $2.1 billion decreased 1.9% from the year-ago quarter’s figure due to lower oil production volumes and lower average realized oil and plant condensate prices. However, the top line beat the Zacks Consensus Estimate by 10.2%.

As of Dec. 31, OVV had cash and cash equivalents worth $35 million and long-term debt of $4.4 billion. Its debt-to-capitalization was 28.2%.

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This article originally published on Zacks Investment Research (zacks.com).

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