--- title: "Permian Resources | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 1.388 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/285659780.md" datetime: "2026-05-08T03:44:53.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285659780.md) - [en](https://longbridge.com/en/news/285659780.md) - [zh-HK](https://longbridge.com/zh-HK/news/285659780.md) --- # Permian Resources | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 1.388 B Revenue: As of FY2026 Q1, the actual value is USD 1.388 B, missing the estimate of USD 1.406 B. EPS: As of FY2026 Q1, the actual value is USD 0.05, missing the estimate of USD 0.3824. EBIT: As of FY2026 Q1, the actual value is USD 534.27 M. Permian Resources Corporation operates in one reportable segment, managing its operations on a consolidated basis, therefore, all metrics are consolidated . #### Segment Revenue - **Total Net Revenues**: Total net revenues for the three months ended March 31, 2026, were $1,388,146 thousand, an increase of $11,695 thousand (1%) from $1,376,451 thousand for the three months ended March 31, 2025 . - **Oil Sales**: Oil sales were $1,227,594 thousand for Q1 2026, up from $1,109,771 thousand for Q1 2025 (11% increase) . - **NGL Sales**: NGL sales were $154,393 thousand for Q1 2026, down from $185,022 thousand for Q1 2025 (-$30,629 thousand, or -17% decrease) . - **Natural Gas Sales**: Natural gas sales were - $18,504 thousand for Q1 2026, down from $81,658 thousand for Q1 2025 (-$100,162 thousand, or -123% decrease) . - **Purchased Gas Sales, net**: Purchased gas sales, net, were $24,663 thousand for Q1 2026, up from $0 thousand for Q1 2025 (100% increase) . #### Operational Metrics - **Net Production Volumes**: - **Oil**: Oil production was 17,311 MBbls for Q1 2026, up from 15,747 MBbls for Q1 2025 (10% increase) . - **NGL**: NGL production was 9,300 MBbls for Q1 2026, up from 7,741 MBbls for Q1 2025 (20% increase) . - **Natural Gas**: Natural gas production was 63,268 MMcf for Q1 2026, up from 60,605 MMcf for Q1 2025 (4% increase) . - **Total (MBoe)**: Total production was 37,156 MBoe for Q1 2026, up from 33,589 MBoe for Q1 2025 (11% increase) . - **Average Daily Net Production**: - **Oil**: Average daily oil production was 192,349 Bbls/d for Q1 2026, up from 174,967 Bbls/d for Q1 2025 (10% increase) . - **NGL**: Average daily NGL production was 103,338 Bbls/d for Q1 2026, up from 86,010 Bbls/d for Q1 2025 (20% increase) . - **Natural Gas**: Average daily natural gas production was 702,979 Mcf/d for Q1 2026, up from 673,388 Mcf/d for Q1 2025 (4% increase) . - **Total (Boe/d)**: Total average daily production was 412,850 Boe/d for Q1 2026, up from 373,209 Boe/d for Q1 2025 (11% increase) . - **Average Sales Prices**: - **Oil (per Bbl)**: The average sales price for oil was $70.91 per Bbl for Q1 2026, up from $70.48 per Bbl for Q1 2025 (1% increase) . - **Oil including hedging effects (per Bbl)**: The average sales price for oil including hedging effects was $68.10 per Bbl for Q1 2026, down from $71.45 per Bbl for Q1 2025 (-5% decrease) . - **NGL (per Bbl)**: The average sales price for NGL was $16.60 per Bbl for Q1 2026, down from $23.90 per Bbl for Q1 2025 (-31% decrease) . - **Natural Gas (per Mcf)**: The average sales price for natural gas was - $0.29 per Mcf for Q1 2026, down from $1.35 per Mcf for Q1 2025 (-121% decrease) . - **Natural Gas including hedging effects (per Mcf)**: The average sales price for natural gas including hedging effects was $1.33 per Mcf for Q1 2026, down from $1.45 per Mcf for Q1 2025 (-8% decrease) . - **Operating Expenses**: - **Lease Operating Expenses (LOE)**: LOE were $192,882 thousand for Q1 2026, up from $179,627 thousand for Q1 2025 (7% increase) . LOE per Boe decreased by 3% to $5.19 for Q1 2026, from $5.35 for Q1 2025 . - **Severance and Ad Valorem Taxes**: These taxes were $101,312 thousand for Q1 2026, down from $107,993 thousand for Q1 2025 (-$6,681 thousand, or -6% decrease) . As a percentage of revenue, they decreased by 6% to 7.3% for Q1 2026, from 7.8% for Q1 2025 . - **Gathering, Processing and Transportation Expenses (GP&T)**: GP&T expenses were $50,639 thousand for Q1 2026, up from $46,650 thousand for Q1 2025 (9% increase) . GP&T per Boe decreased by 2% to $1.36 for Q1 2026, from $1.39 for Q1 2025 . - **Depreciation, Depletion and Amortization (DD&A)**: DD&A was $526,288 thousand for Q1 2026, up from $474,203 thousand for Q1 2025 (increase of $52,085 thousand) . DD&A per Boe increased to $14.16 for Q1 2026, from $14.12 for Q1 2025 . - **General and Administrative (G&A) Expenses**: G&A expenses were $43,772 thousand for Q1 2026, up from $43,056 thousand for Q1 2025 (increase of $716 thousand) . - **Cash G&A Expenses**: Cash G&A expenses were $28,609 thousand for Q1 2026, up from $26,857 thousand for Q1 2025 . Cash G&A expenses per Boe decreased by 4% to $0.77 for Q1 2026, from $0.80 for Q1 2025 . - **Stock-based Compensation**: Stock-based compensation was $15,163 thousand for Q1 2026, down from $16,199 thousand for Q1 2025 . - **Interest Expense**: Interest expense was $67,020 thousand for Q1 2026, down from $73,839 thousand for Q1 2025 (decrease of $6,819 thousand) . - **Net Gain (Loss) on Derivative Instruments**: This was - $339,924 thousand for Q1 2026, compared to $57,731 thousand for Q1 2025 . Realized cash settlement gains were $29,373 thousand for Q1 2026, up from $21,308 thousand for Q1 2025 . Non-cash mark-to-market derivative loss was - $369,297 thousand for Q1 2026, compared to a gain of $36,423 thousand for Q1 2025 . - **Income Tax Expense**: Income tax expense was - $13,486 thousand for Q1 2026, compared to - $100,334 thousand for Q1 2025 . #### Cash Flow - **Net Cash Provided by Operating Activities**: Net cash provided by operating activities was $815,076 thousand for Q1 2026, down from $898,032 thousand for Q1 2025 (decrease of $82,956 thousand) . - **Net Cash Used in Investing Activities**: Net cash used in investing activities was - $664,005 thousand for Q1 2026, compared to - $361,816 thousand for Q1 2025 . - **Net Cash Used in Financing Activities**: Net cash used in financing activities was - $133,981 thousand for Q1 2026, compared to - $313,323 thousand for Q1 2025 . #### Future Outlook and Strategy Permian Resources Corporation anticipates funding its entire 2026 capital expenditures budget through cash flows from operations, supported by expected oil and gas production, current commodity prices, and existing hedging positions . The company’s new investment grade credit ratings are expected to enhance financial flexibility by improving access to debt markets, reducing borrowing costs, and increasing liquidity . Permian Resources Corporation plans to return capital to shareholders primarily via its base dividend and opportunistic share repurchases, with potential plans to retire or purchase outstanding senior notes . ### Related Stocks - [PR.US](https://longbridge.com/en/quote/PR.US.md) ## Related News & Research - [A Look At Permian Resources (PR) Valuation After Record Free Cash Flow And Raised Production Guidance](https://longbridge.com/en/news/286701583.md) - [First Eagle Investment Management LLC Has $514,000 Position in Permian Resources Corporation $PR](https://longbridge.com/en/news/286526987.md) - [Yext to Announce First Quarter Fiscal Year 2027 Financial Results on June 2, 2026 | YEXT Stock News](https://longbridge.com/en/news/286970613.md) - [LOWE'S REPORTS FIRST QUARTER 2026 SALES AND EARNINGS RESULTS | LOW Stock News](https://longbridge.com/en/news/287043063.md) - [Share Buyback Transaction Details May 7 – May 13, 2026 | WTKWY Stock News](https://longbridge.com/en/news/286380165.md)