Permian Resources Corporation (PR)
NYSE:PR
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Earnings Data
Report Date
Aug 05, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.52Last Year’s EPS
0.28Same Quarter Last Year
Strong Buy
Based on 18 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The earnings call was strongly positive: management reported record free cash flow and free cash flow per share, meaningful production outperformance, continued D&C cost declines (to ~$685/ft with a >10% annual D&C cost reduction trend), operational records (fastest drilling, longest laterals), high recycled water usage (~70%), 30% site electricity savings from microgrids at affected sites, investment-grade ratings from all three agencies, and $1.2 billion of debt reduction since early 2025. Near-term challenges include weak Waha pricing leading to some curtailments, low absolute realized gas prices despite hedges ($1.33/Mcf), diesel-driven inflationary pressure (diesel up ~50–70% recently), and normalization of LOE toward guidance. Management emphasized flexibility, selective M&A, and confidence in generating higher free cash flow in 2026 versus prior guidance. Overall, positive operational execution and balance sheet strength outweigh transitory commodity and input cost headwinds.Company Guidance
Record Free Cash Flow and Free Cash Flow Per Share
Q1 free cash flow exceeded $500 million and free cash flow per share was $0.60, the highest in company history. The company has delivered a 30% CAGR in free cash flow per share over the past 3 years (2023: $1.13; 2024: $1.64, ~+50% YoY; 2025: $1.94, ~+20% YoY).
Strong Production Outperformance
Q1 oil production was 192,000 barrels per day and total production was 413,000 BOE per day, beating expectations due to better-than-forecast well results and reduced downtime.
Industry-Leading Cost Reductions in D&C
Drilling & completion (D&C) cost reduced to approximately $685 per lateral foot in Q1 (improving from ~$700 per foot), with the company averaging >10% D&C cost reductions per year since 2022 and targeting ~$675 per foot for the year.
Operational Records on Drilling and Completions
Delivered the fastest well in company history (over 2,500 feet per day), the longest quarterly average lateral lengths (roughly 25% of wells >2.5 miles), and record recycled water utilization of ~70% in completions.
Controllable Cash Cost Discipline
Controllable cash costs came in within 2026 guidance: LOE $5.19 per BOE, GP&T ~$1.36 per BOE, and cash G&A $0.77 per BOE; guidance midpoint for LOE remains near $5.45/BOE for the year.
Infrastructure and Sustainability Wins
Installed 4 microgrids in the quarter, eliminating over 25 generators and reducing electricity cost at those well sites by roughly 30%. Recycled water at ~70% lowers completion cost and LOE.
Strengthened Balance Sheet and Capital Allocation Optionality
Achieved investment-grade ratings from all three major agencies, reduced absolute debt by approximately $1.2 billion since the beginning of 2025, and retain flexibility to prioritize base dividend, debt repayment, cash accumulation or accretive M&A.
Improved Natural Gas Takeaway and Hedging Benefits
Realized natural gas price including hedges was $1.33/Mcf in Q1, representing a $2.44 per Mcf premium to Waha for the quarter, driven ~50% by firm transportation agreements (currently ~400 MMcf/d firm capacity; growing to >700 MMcf/d in 2027).
Active, Disciplined M&A and Ground Game
Continued inorganic growth with ~40 ground-game transactions and roughly $200 million of ground-game activity in the quarter; company has completed >$1 billion of high-quality acquisitions each of the past 3 years and remains selective on pricing.
Operational Flexibility to Accelerate Barrels
Workover rig count roughly doubled from January to March (from ~30–40 to ~70–90 workovers/month, ~+100%), allowing the company to pull forward production (TIL acceleration) without adding new rigs; company estimates ability to add ~5% incremental TILs for the year through efficiency gains.
PR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 06, 2026 | $21.21 | $20.08 | -5.33% |
Feb 25, 2026 | $17.46 | $17.97 | +2.90% |
Nov 05, 2025 | $11.90 | $12.56 | +5.52% |
Aug 06, 2025 | $13.17 | $12.84 | -2.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Permian Resources Corporation (PR) report earnings?
Permian Resources Corporation (PR) is schdueled to report earning on Aug 05, 2026, After Close (Confirmed).
What is Permian Resources Corporation (PR) earnings time?
Permian Resources Corporation (PR) earnings time is at Aug 05, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PR EPS forecast?
PR EPS forecast for the fiscal quarter 2026 (Q2) is 0.52.