Pioneer Natural Resources Co. said its third-quarter normalized net income came to $1.27 per share, compared with the S&P Capital IQ consensus estimate of a loss of 5 cents per share.
EPS fell 54.8% year over year from $2.82.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $191.3 million, a decrease of 52.6% from $403.8 million in the prior-year period.
The normalized profit margin fell to 21.6% from 34.6% in the year-earlier period.
Total revenue declined 26.0% on an annual basis to $863.0 million from $1.17 billion, and total operating expenses rose 6.9% on an annual basis to $512.0 million from $479.0 million.
Reported net income grew 58.1% year over year to $642.0 million, or $4.28 per share, from $406.1 million, or $2.84 per share.