Pioneer Natural reports Q3 adjusted EPS $1.99, consensus $1.99
Reports Q3 revenue $2.33B, may not compare to consensus $1.27B. President and CEO Scott D. Sheffield stated, "Pioneer reported another outstanding quarter where we executed at a high level, underspent our capital budget and delivered strong production growth. We continue to drive down costs as demonstrated by a further reduction in our 2019 capital budget, including achieving our goal to reduce facilities spending earlier than we had expected, and realizing our first full quarter of reduced G&A spending. "The unique combination of our peer-leading asset base and increased efficiencies resulted in strong free cash flow generation of approximately $250 million during the third quarter. We remain committed to returning capital to shareholders as evidenced by our additional share repurchases during the quarter and announcing our first quarterly dividend of $0.44 per share, or $1.76 per share on an annualized basis. Pioneer's unmatched inventory of highly economic Midland Basin horizontal wells underpins a resilient program that maximizes shareholder value, generates top-tier margins and is being executed in a manner that demonstrates our commitment to sustainable practices."