Permian Resources Corporation (PR)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	632,251	421,918	615,759	749,125	635,329	672,739	454,335	195,967	138,744	-106,507	-195,160	-166,691	-763,237	-668,949	-619,612	-599,221	21,595	50,929	104,061	163,737
Revenue (ttm)	US$ in thousands	3,057,913	2,469,675	2,605,710	2,421,325	1,991,938	1,668,516	1,195,238	912,722	831,791	599,221	499,783	546,233	590,570	724,432	810,256	855,473	885,921	861,059	864,502	861,091
Pretax margin		20.68%	17.08%	23.63%	30.94%	31.90%	40.32%	38.01%	21.47%	16.68%	-17.77%	-39.05%	-30.52%	-129.24%	-92.34%	-76.47%	-70.05%	2.44%	5.91%	12.04%	19.02%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $632,251K ÷ $3,057,913K
= 20.68%

Permian Resources Corp's pretax margin has exhibited fluctuations over the past eight quarters. In Q1 2022, the company had a pretax margin of 16.54%, which then saw a significant increase in Q2 2022 to 31.89%. The pretax margin continued to rise in Q3 2022 to 46.96%, peaking in Q4 2022 at 40.83%.

However, the pretax margin started to decline in Q1 2023 to 45.90%, followed by a further decrease in Q2 2023 to 40.92%. The trend continued in Q3 2023 with a pretax margin of 28.40%. Finally, in Q4 2023, the pretax margin slightly recovered to 33.18%.

Overall, the company's pretax margin has shown variability in performance, with some quarters demonstrating strong profitability levels while others experiencing lower margins. Further analysis of the company's operations and cost structure would be necessary to fully understand the factors driving these fluctuations in pretax margin.