PXD Update - Jan 30

dan_s · Post by **dan_s** » Wed Jan 30, 2019 9:53 am

Pioneer Natural Resources (NYSE:PXD) says it expects a $576M non-cash gain on oil and gas hedging contracts for Q4 (~$3.36/share), according to an SEC filing.

GAAP or "Reported Earnings" include some very distortive and confusing numbers whenever there is a big change in commodity prices from beginning to end of the quarter. Focus on "Adjusted Earnings" that remove the non-cash items like "impairment" and "mark-to-market adjustments on hedges".

My forecast of $1.57 Q4 EPS for PXD is "Adjusted Earnings.