Parsley Energy (PE) Tops Q3 EPS by 7c, Revenues Beat

Parsley Energy (NYSE: PE) reported Q3 EPS of $0.43, $0.07 better than the analyst estimate of $0.36. Revenue for the quarter came in at $510.15 million versus the consensus estimate of $504.18 million.

"Parsley has executed with a sense of urgency throughout 2019 and the third quarter was no different," said Matt Gallagher, Parsley's President and CEO. "With an inflection to free cash flow and a step-change improvement in capital efficiency, we have delivered on critical objectives of our 2019 action plan, underscoring the resiliency of our Permian asset base. Furthermore, Parsley recently announced a low-premium, all-stock acquisition of Jagged Peak, which will enhance our corporate free cash flow profile and help sustain these capital efficiency gains moving forward. I am excited by the prospects of what the combination of Parsley and Jagged Peak can deliver for shareholders in 2020 and beyond."

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

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