Permian Resources (NYSE:PR) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$1.25b (up 100% from 2Q 2023).

• Net income: US$235.1m (up 220% from 2Q 2023).

• Profit margin: 19% (up from 12% in 2Q 2023). The increase in margin was driven by higher revenue.

• EPS: US$0.38 (up from US$0.23 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Permian Resources EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.9%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Oil and Gas industry in the US.

Performance of the American Oil and Gas industry.

The company's shares are down 9.5% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for Permian Resources that you need to be mindful of.

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