PXD Update - Jan 30
Posted: 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.
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.