Permian Resources Q3 Earnings Beat Estimates, Increase Y/Y

Permian Resources Corporation PR reported a third-quarter 2025 adjusted net income per share of 37 cents, which beat the Zacks Consensus Estimate of 30 cents. Additionally, the bottom line increased from the year-ago quarter’s reported figure of 35 cents. This outperformance was driven by a rise in production volumes and an increased natural gas realized price.

Meanwhile, Permian Resources’ oil and gas sales of $1.3 billion increased 8.7% from the year-ago quarter but missed the Zacks Consensus Estimate by $16 million.

Permian Resources Corporation Price, Consensus and EPS Surprise

Permian Resources Corporation price-consensus-eps-surprise-chart | Permian Resources Corporation Quote

The Midland, TX-based oil and gas exploration and production company’s board of directors declared a quarterly cash dividend of 15 cents per share of common stock, equivalent to 60 cents on an annual basis. The dividend will be paid on Dec. 31, to its shareholders of record as of Dec. 17, 2025.

PR’s Production & Price Realizations

The average daily third-quarter production (comprising 45.6% oil) was up 18.2% from the year-ago level to 410,225 barrels of oil equivalent (Boe) and beat the Zacks Consensus Estimate of 394,559 Boe. The company’s production outperformance was driven by continued strong execution, particularly from a large-scale Texas development that was brought online in the quarter.

Oil volume for the period was 186,937 barrels per day (Bbls/d), up 16.2% year over year. The consensus mark was pegged at 181,975 Bbls/d. PR’s natural gas production was 704,795 thousand cubic feet (Mcf) per day, while NGL output totaled 105,822 Bbls/d.

The average sales price for oil during the third quarter was $64.77 per barrel, down 14.7% from the prior-year realization of $74.31. The figure beat the consensus mark of $64.

The average realized natural gas price in the third quarter was 52 cents per Mcf compared with negative 67 cents in the year-earlier period. The figure beat the Zacks Consensus Estimate of 45 cents.

Meanwhile, the average realized NGL price was $17.50 per barrel, down from $19.44 realized in the third quarter of 2024.

Costs & Expenses for PR

Total operating expenses in the quarter rose to $930.9 million from $820.8 million in the year-ago quarter. This was primarily due to a 10.4% year-over-year increase in lease operating costs, which rose to $191.3 million, a 14% year-over-year increase in General and administrative expenses and a 16.2% rise in depreciation, depletion and amortization, which totaled $526.9 million.

PR’s Financial Position

Adjusted cash flow from operations increased 15.3% to $948.5 million, while Permian Resources’ capital expenditure totaled $479.7 million, leading to adjusted free cash flow of $468.8 million.

During the quarter, the company repurchased 2.3 million shares at a weighted average price of $13.49 per share.

As of Sept. 30, PR had $111.8 million in cash and cash equivalents. The company had a long-term debt of $3.5 billion, reflecting a debt-to-capitalization of 26.1%.

PR’s Guidance for 2025

This Zacks Rank #3 (Hold) company has raised its 2025 oil production target by 3 MBbls/d to 181.5 MBbls/d and increased its total production target by 9 MBoe/d to 394 MBoe/d, both based on the midpoint of guidance. This upward revision reflects continued strong well results.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Important Earnings at a Glance

While we have discussed PR’s third-quarter results in detail, let us take a look at three other key reports in this space.

Alberta-based integrated energy company Suncor Energy Inc. SU reported third-quarter 2025 adjusted operating earnings of $1.07 per share, which beat the Zacks Consensus Estimate of 85 cents. This outperformance can be attributed to strong production growth in its upstream segment. However, the bottom line declined marginally from the year-ago quarter’s reported figure of $1.08 due to lower upstream price realizations.

Operating revenues of $9.2 billion beat the Zacks Consensus Estimate by 11.1%, primarily driven by increased sales volumes in both the upstream and downstream segments. However, the top line decreased approximately 3.9% year over year.

As of Sept. 30, 2025, the company had cash and cash equivalents of C$2.9 billion and long-term debt of C$8.6 billion. Its debt-to-capitalization was 16%.

The Denver, CO-based oil and gas exploration and production company, Ovintiv Inc. OVV, reported third-quarter 2025 adjusted earnings per share of $1.03, which beat the Zacks Consensus Estimate of 97 cents. The outperformance was driven by higher plant condensate production volumes and higher average realized natural gas prices.  However, the bottom line decreased from the year-ago level of $1.85.

OVV’s total revenues of $2.1 billion decreased 11% from the year-ago quarter’s figure, driven by lower oil production volumes and lower average realized oil and plant condensate prices. However, the top line beat the Zacks Consensus Estimate by 6.1%.

As of Sept. 30, the company had cash and cash equivalents worth $25 million and long-term debt of $4.4 billion. Its debt-to-capitalization was 30%.

The Calgary-based integrated oil and gas company, Imperial Oil Limited IMO, reported third-quarter 2025 adjusted earnings per share of $1.57, which beat the Zacks Consensus Estimate of $1.44. However, the bottom line decreased from the year-ago quarter’s $1.71. This decrease was due to lower upstream price realizations, partly offset by higher production volumes.

Revenues of $8.8 billion missed the Zacks Consensus Estimate of $11.1 billion. The top line also decreased from the year-ago quarter’s level of $9.7 billion due to weak performance in both the Upstream and Downstream segments.

As of Sept. 30, Imperial Oil had cash and cash equivalents of C$1.9 billion. Total debt of the company amounted to C$4 billion, with a debt-to-capitalization of 14.4%.

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This article originally published on Zacks Investment Research (zacks.com).

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