Stock Analysis on Net

Pioneer Natural Resources Co. (NYSE:PXD)

$22.49

This company has been moved to the archive! The financial data has not been updated since February 22, 2024.

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Paying user area

The data is hidden behind: . Unhide it.

This is a one-time payment. There is no automatic renewal.


We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Pioneer Natural Resources Co., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Oil and gas
Sales of purchased commodities
Revenue from contracts with purchasers
Interest and other income (loss), net
Derivative gain (loss), net
Gain (loss) on disposition of assets, net
Revenues and other income
Oil and gas production
Production and ad valorem taxes
Depletion, depreciation and amortization
Purchased commodities
Exploration and abandonments
General and administrative
Accretion of discount on asset retirement obligations
Operating income (loss)
Interest expense
Other expense
Income (loss) before income taxes
Income tax (provision) benefit
Net income (loss) attributable to common stockholders

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).


Revenue and Income Trends
Revenue from contracts with purchasers experienced a decline from early 2019 through mid-2020, hitting the lowest point in June 2020 at 1,141 million USD. Following this period, there was a marked and sustained recovery reaching a peak of 7,005 million USD in June 2022, after which the figure decreased steadily but remained elevated relative to the earlier periods, ending at 5,076 million USD in December 2023. Overall, revenues followed a U-shaped trajectory, with a substantial dip in 2020 correspondent with global economic challenges, followed by a strong rebound. Revenues and other income displayed a similar pattern, reflecting the broader revenue trend.
Segment-Specific Revenues
Oil and gas sales saw fluctuations consistent with overall revenue trends, dropping sharply in the middle of 2020 to 600 million USD in June 2020, rising strongly thereafter to a high point of 4,639 million USD in June 2022, and then declining gradually but remaining above 3,000 million USD in the last recorded quarters. Sales of purchased commodities followed a parallel trend with a sharp decrease in early 2020, recovery through 2022, and slight fluctuations thereafter. This suggests volatility tied to commodity market conditions and possibly supply chain factors.
Income Components and Volatility
Interest and other income (loss), net, showed notable volatility with values swinging between gains and losses across quarters, without a clearly defined trend. Derivative gains and losses exhibited extreme variability, with substantial gains in early 2020 offset by significant losses throughout 2021 and moderate losses and occasional gains thereafter, highlighting exposure to market risks and hedging effectiveness. Gains or losses on asset dispositions were inconsistent, with one notably large loss in December 2021, possibly indicating an unusual or one-time event. Interest expense remained relatively stable with moderate increases over time, reflecting steady debt servicing costs.
Operating Expenses and Costs
Oil and gas production expenses demonstrated an increasing trend, worsening from a loss of 221 million USD in March 2019 to a loss of 536 million USD by December 2023, implying rising costs or reduced efficiency. Production and ad valorem taxes also increased over time, peaking in mid-2022. Depletion, depreciation, and amortization costs rose steadily throughout the period, indicating growing asset base or aging assets requiring more amortization. Purchased commodities costs tracked revenue trends but with proportionate increases, reflecting the cost base of commodity sales.
Profitability and Net Income
Operating income showed a dramatic decrease in mid-2020, turning negative in June 2020 (-435 million USD) but rebounded strongly beginning late 2020 and sustained high levels through 2022, peaking at 3,066 million USD in June 2022. Although a decline followed, profitability remained positive and solid into 2023. Net income attributable to common stockholders mirrored operating income trends with losses occurring primarily in 2020, followed by a robust recovery and sustained profits through 2023. The income tax provision trend aligns with profitability trends, increasing tax expenses during profitable periods and tax benefits during losses.
General and Administrative and Exploration Expenses
General and administrative expenses remained relatively stable with some variability but exhibited a sharp spike in the last quarter of 2023 to 202 million USD, suggesting either an operational change or one-time expenses. Exploration and abandonment costs were relatively minor but showed some increase in volatility toward the latter periods, potentially reflecting shifting investment or asset retirement strategy.
Summary Insights
The data indicates that the company faced significant challenges during 2020, likely reflecting broader economic and industry conditions. Recovery from these lows was robust and sustained through 2022, followed by modest adjustments downward but maintaining profitability. The volatility in derivative gains/losses and other income suggests exposure to market price fluctuations and hedging activities. Increasing production costs and depreciation expenses signal higher operational outlays, which may pressure margins despite revenue growth. Overall, the company demonstrated resilience with significant revenue growth and strong profitability post-2020 downturn, albeit with some emerging cost and administrative expense considerations in late 2023.