MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Permian Resources Corporation (PR) on Tuesday reported fourth-quarter net income of $216.7 million.
On a per-share basis, the Midland, Texas-based company said it had profit of 29 cents. Earnings, adjusted for non-recurring costs, were 36 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The company posted revenue of $1.3 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $1.32 billion.
For the year, the company reported profit of $984.7 million, or $1.45 per share. Revenue was reported as $5 billion.
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