Permian Resources Shares Plummet After Record Earnings and Higher Oil Guidance

Permian Resources' shares dropped by 5.4% after announcing record-breaking Q2 earnings and higher oil production guidance for 2026.

The company's net income rose to US$792.46 million in Q2, with basic earnings per share from continuing operations increasing to US$0.95.

Permian Resources also reaffirmed a quarterly base dividend of US$0.16 per share and reported record free cash flow.

The company raised its full-year 2026 oil production guidance to about 199,000 barrels per day at the midpoint, highlighting efficiency gains and expanded Delaware Basin inventory.