Parsley Energy (PE) Tops Q3 EPS by 1c, Revenues Beat

Parsley Energy (NYSE: PE) reported Q3 EPS of $0.45, $0.01 better than the analyst estimate of $0.44. Revenue for the quarter came in at $511.02 million versus the consensus estimate of $489.24 million.

"Parsley Energy's development program in 2018 has centered on operational continuity, and that focus has made us a more efficient organization," said Bryan Sheffield, Parsley\'s Chairman and CEO. "Since stabilizing our activity levels 12 months ago, Parsley has built operational momentum while expanding operating margins to Company-record levels. Looking ahead, we intend to keep a disciplined eye on cost control and operational efficiency while maintaining a steady development pace until we are in position to fund incremental activity with operating cash flow. This plan accelerates our progress toward a self-sustaining organic growth model, and at current commodity prices we expect to generate free cash flow by the end of 2019. This is the natural next step in Parsley\'s corporate evolution, and I am excited that we have assembled the right team to create shareholder value from our extensive inventory of high-quality assets."

For earnings history and earnings-related data on Parsley Energy (PE) click here.

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