Pioneer Natural Resources Latest To Report Earnings Slump ...Middle East

OILPRICE - Economy
Pioneer Natural Resources Latest To Report Earnings Slump
source : OILPRICE ( Middle East ) () 43
Pioneer Natural Resources reported a 33.5% decline in revenues for the second quarter of the year, 50% lower earnings, and an updated, lower budget for the year. The company said it had generated revenue of $4.6 billion over the quarter, with earnings coming in at $4.49 per share, down from $9.36 per share a year earlier. This is in line with the performance of the rest of the industry so far this year, with lower oil prices naturally leading to lower sales and profits. What is more important is the announcement that Pioneer now plans to spend…

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