Quarterly ResultMay 7, 2026, 04:13 PM
Permian Resources Q1 Net Income $43.6M, EPS $0.05; Derivative Loss Impacts Results
AI Summary
Permian Resources Corp reported a significant decrease in net income for the first quarter of 2026, with net income attributable to Class A Common Stock falling to $43.6 million, or $0.05 per share, compared to $329.3 million, or $0.47 per share, in the prior year. This decline was primarily driven by a substantial net loss on derivative instruments. The company also completed a corporate reorganization in January 2026 to simplify its equity structure and entered into a new unsecured revolving credit facility in April 2026.
Key Highlights
- Net income attributable to Class A Common Stock decreased to $43.6 million in Q1 2026 from $329.3 million in Q1 2025.
- Basic EPS for Class A Common Stock was $0.05 in Q1 2026, down from $0.47 in Q1 2025.
- The company recorded a net loss on derivative instruments of $339.9 million in Q1 2026, compared to a $57.7 million gain in Q1 2025.
- Oil and gas sales slightly increased to $1.388 billion in Q1 2026 from $1.376 billion in Q1 2025.
- Net cash provided by operating activities was $815.1 million in Q1 2026, down from $898.0 million in Q1 2025.
- Acquisitions of oil and natural gas properties, net, totaled $204.9 million in Q1 2026.
- Dividends paid increased to $134.9 million in Q1 2026 from $106.1 million in Q1 2025.
- Completed a corporate reorganization on January 7, 2026, simplifying the equity structure.