MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Permian Resources Corporation (PR) on Tuesday reported fourth-quarter net income of $255.4 million.
On a per-share basis, the Midland, Texas-based company said it had profit of 51 cents. Earnings, adjusted for non-recurring gains, came to 35 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The company posted revenue of $1.12 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $1.11 billion.
For the year, the company reported profit of $476.3 million, or $1.22 per share. Revenue was reported as $3.12 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PR at https://www.zacks.com/ap/PR