Parsley Energy Q3 Profit Rises - Quick Facts

(RTTNews) - Parsley Energy, Inc. (PE) reported third-quarter net income to shareholders' equity of $16.87 million or $0.18 per share, compared to profit of $11.93 million, prior year. Adjusted net income was $15.8 million, or $0.13 per share, for the quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.11 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $83.62 million from $37.44 million last year. Analysts expected revenue of $86.08 million for the quarter.

Parsley Energy raised its second half production guidance to 17,000-17,500 Boe/d, from 15,500-16,500 Boe/d, reflecting upwardly revised expectations for Wolfcamp B well productivity along with incremental production from acquired wells.