Yahoo Finance PDC Energy Full Year 2022 Earnings: EPS Beats Expectations, Revenues Lag
PDC Energy (NASDAQ:PDCE) Full Year 2022 Results
Key Financial Results
Revenue: US$4.00b (up 67% from FY 2021).
Net income: US$1.78b (up 240% from FY 2021).
Profit margin: 45% (up from 22% in FY 2021). The increase in margin was driven by higher revenue.
EPS: US$18.76 (up from US$5.30 in FY 2021).
PDCE Production and Reserves
Oil Reserves and Sales Price
Proven reserves: 270.02 MMbbls.
Average sales price/bbl: US$93.80.
Gas Reserves and Sales Price
Proven reserves: 2892.258 Bcf.
Average sales price/mcf: US$4.94.
LNG Reserves and Sales Price
Proven reserves: 347.703 MMbbls.
Average sales price/bbl (hedged): US$30.17.
Combined Production and Costs
Oil equivalent production: 85.038 MMboe (71.333 MMboe in FY 2021).
Average production cost/Boe: US$8.22 (US$6.26/Boe in FY 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
PDC Energy EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) exceeded analyst estimates by 6.4%.
Looking ahead, revenue is expected to fall by 2.8% p.a. on average during the next 2 years compared to a 5.8% decline forecast for the Oil and Gas industry in the US.
Performance of the American Oil and Gas industry.
The company's shares are up 4.1% from a week ago.
Risk Analysis
It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with PDC Energy (at least 1 which is potentially serious), and understanding these should be part of your investment process.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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