Education
About Us
Working with TipRanks
Follow Us
Parex Resources (TSE:PXT)
TSX:PXT
Earnings Data
Report Date
May 07, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.67Last Year’s EPS
0.8Same Quarter Last Year
Based on 3 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Mar 05, 2025
|% Change Since: -10.22%
|Next Earnings Date:May 07, 2025
Earnings Call Sentiment|Positive
The earnings call outlined a strong financial and operational performance with significant progress in reserves and strategic initiatives. Tax and pricing improvements, alongside a robust plan for shareholder returns, further contribute to a positive outlook. Despite a minor decrease in PDP reserves, the overall sentiment is optimistic.Company Guidance
During Parex Resources' 2024 year-end conference call, the company reported robust financial and operational performance despite facing headwinds throughout the year. Key metrics highlighted include generating $275 million in free funds flow, achieving a quarterly funds flow of $141 million, and maintaining a production average of 45,297 BOE per day. Their 2024 results also saw a growth in 1P and 2P reserves per share, although PDP per share decreased slightly. Operational efforts included advancing waterflood and polymer injection techniques at key blocks, contributing to improved recovery factors. The company anticipates a reduced effective tax rate of 3% to 6% for 2025 at $70 per barrel Brent, alongside a Vasconia differential currently below $2 per barrel, down from the 2024 average of $5 per barrel. Looking forward, Parex plans to ramp up to four rigs in the second quarter of 2025 and focus on low-risk activities to enhance shareholder returns, which have amounted to C$1.5 billion over the past five years.Strong Financial Performance
Generated $275 million in free funds flow, the third highest in the company's history, and $141 million in funds flow provided by operations for the quarter.
Positive Reserves Report
Grew 1P and 2P reserves per share in 2024, with strategic application of technology leading to increased recovery factors in key assets like LLA-34 and Cabrestero.
Operational Progress
Production averaged 45,297 BOE per day, meeting the revised guidance. Significant progress in waterflood and polymer activities and gas exploration plans.
Tax and Pricing Improvements
Achieved a $6 million current tax recovery, with an expected lower effective tax rate of 3% to 6% in 2025. Vasconia differential improved to below $2 per barrel.
Shareholder Returns
Returned C$1.5 billion to shareholders over the past five years, more than the current market cap, with plans to continue strengthening returns.
Best Safety Performance
2024 marked the company's best safety performance, highlighting employee dedication.
---
TSE:PXT 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
---
TSE:PXT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 05, 2025 | C$12.20 | C$11.92 | -2.23% |
| Nov 06, 2024 | C$12.51 | C$13.21 | +5.59% |
| Jul 31, 2024 | C$18.98 | C$16.97 | -10.62% |
| May 08, 2024 | C$21.32 | C$22.16 | +3.93% |
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 Parex Resources (TSE:PXT) report earnings?
Parex Resources (TSE:PXT) is schdueled to report earning on May 07, 2025, TBA Not Confirmed.
What is Parex Resources (TSE:PXT) earnings time?
Parex Resources (TSE:PXT) earnings time is at May 07, 2025, TBA Not 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 TSE:PXT EPS forecast?
TSE:PXT EPS forecast for the fiscal quarter 2025 (Q1) is 0.67.
---