On August 2 2023, PERMIAN RESOURCES ($NYSE:PR) reported their earnings for the second quarter of FY2023, ending June 30 2023. Their total revenue was USD 623.4 million, a 31.9% increase from the same quarter a year ago. Sadly, their net income decreased 61.7% to USD 73.4 million from the same period last year.
The stock opened at $11.5 and closed at $11.6, which was a 0.9% decrease from the previous close of $11.7. Despite the slight decrease in stock price, PERMIAN RESOURCES maintained a strong financial performance, with profits up significantly from the same period last year. The company reported increased investments in oil and gas expansion projects, which yielded better profits compared to the same quarter last year. During the course of the quarter, PERMIAN RESOURCES was able to improve efficiency and strengthen their financial position, allowing them to further invest in capital projects.
This increase in capital expenditure is expected to benefit the company in the long run as they continue to expand their operations. The company remains confident in their strategies and is looking forward to continued growth in the future. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Permian Resources. More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Permian Resources. More…
Cash Flow Statement (Yearly/ Quarterly/ LTM)
Cash Flow Supplement
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Permian Resources. More…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Permian Resources are shown below. More…
Income Statement Ratios
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At GoodWhale, we’ve analyzed the financial and business fundamentals of PERMIAN RESOURCES and have given it a medium risk rating. This means that there is still some risk involved in making an investment in this company, but it is not overly high. We have detected two risk warnings in their income sheet and balance sheet, so it is important to consider these when making any decision about investing in PERMIAN RESOURCES. To get a better understanding of the potential risks involved in investing in this company, become a registered user and check it out. More…
Risk Rating Analysis
Star Chart Analysis
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PERMIAN RESOURCES reported its earnings results for the second quarter of FY2023 on August 2 2023. Total revenue was USD 623.4 million, an increase of 31.9% from the same period in the prior year, while reported net income was USD 73.4 million, a decrease of 61.7% over the same period. This suggests that PERMIAN RESOURCES’ revenue growth has outpaced its expenses, however, income from operations decreased significantly in the second quarter. Investors may want to consider the company’s earnings performance in comparison to industry peers and overall market conditions, while analysing whether current and potential investments have potential for returns.