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Parex (PARXF)
:PARXF
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
1.15Last Year’s EPS
1.28Same Quarter Last Year
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2018
|% Change Since: 8.37%
|Next Earnings Date:Aug 08, 2018
Earnings Call Sentiment|Neutral
The earnings call reflects a balanced outlook. While the company has achieved production stability and strong free funds flow, operational challenges and increased costs pose significant concerns. The management remains optimistic about future performance and strategies.Company Guidance
During the Parex Resources Q3 2024 earnings call, the company provided updated guidance that reflects a stable production outlook and improved financial metrics. They increased their production guidance midpoint from 49,000 BOE per day to 49,500 BOE per day for Q4, despite challenges faced earlier in the year. The revised capital guidance anticipates higher free funds flow, projected at $220 million at the midpoint of the guidance range. In Q3, Parex achieved production levels averaging 47,569 BOE per day, and generated $152 million in funds flow from operations, influenced by a Brent price of $79 per barrel and a significant reduction in current taxes. The company's capital expenditures for the quarter amounted to $82 million, with an expectation to be between $85 million and $100 million for Q4. Free funds flow was reported at $69 million, which was utilized for share repurchases and regular dividends, alongside a $20 million debt repayment. The company ended the period with a working capital surplus of $38 million and cash reserves of $147 million.Production Stability and Midpoint Guidance Increase
Production levels have been stable and within management expectations, leading to an increase in midpoint guidance from 49,000 BOE a day to 49,500 BOE a day, representing an additional 2,000 BOE a day for the fourth quarter.
Strong Free Funds Flow
Updated capital guidance has led to projected higher free funds flow of $220 million at midpoint of guidance range, with $69 million in free funds flow for the quarter.
Successful Drilling Results
At LLA-32, a successful step-out well is producing roughly 2,000 barrels per day gross. At Capachos, a new well is producing roughly 5,000 BOE per day gross.
Reduction in Current Taxes
Funds flow provided by operations was $152 million, supported by a Brent price of $79 per barrel and a significant reduction in current taxes due to various factors.
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PARXF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PARXF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $9.32 | $9.80 | +5.15% |
| Jul 31, 2024 | $14.24 | $12.60 | -11.52% |
| May 08, 2024 | $16.00 | $16.70 | +4.37% |
| Feb 29, 2024 | $14.68 | $13.80 | -5.99% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Parex (PARXF) report earnings?
Parex (PARXF) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Parex (PARXF) earnings time?
Parex (PARXF) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PARXF EPS forecast?
PARXF EPS forecast for the fiscal quarter 2024 (Q4) is 1.15.
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