Pioneer Natural Resources Co. said its fourth-quarter normalized net income was a loss of 36 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.
The per-share loss decreased 24.1% year over year from 47 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $60.6 million, compared with a loss of $70.0 million in the prior-year period.
The normalized profit margin rose to negative 5.0% from negative 8.7% in the year-earlier period.
Total revenue climbed 51.7% year over year to $1.22 billion from $807.0 million, and total operating expenses increased 48.7% year over year to $1.31 billion from $879.0 million.
Reported net income totaled a loss of $42.9 million, or a loss of 25 cents per share, compared with a loss of $618.4 million, or a loss of $4.15 per share, in the prior-year period.
For the year, the company's normalized net income totaled a loss of $3.48 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 40 cents.
EPS was a loss of 46 cents in the prior year.
Normalized net income was a loss of $578.1 million, compared with a loss of $68.1 million in the prior year.
Full-year total revenue increased year over year to $3.95 billion from $3.14 billion, and total operating expenses rose year over year to $4.71 billion from $3.09 billion.
The company said reported net income came to a loss of $554.4 million, or a loss of $3.35 per share, in the full year, compared with a loss of $266.7 million, or a loss of $1.79 per share, the prior year.
