Plains Exploration & Production Co. (PXP) reported that its third-quarter net income was $39.33 million or $0.30 per share, compared to $493.15 million or $4.50 per share in the same quarter last year. Adjusted net income for the quarter was $185.3 million, or $1.40 per share, compared to $196.3 million in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.53 per share. Analysts' estimates typically exclude special items.
Revenues for the quarter were $312.19 million, compared to $719.54 million in the prior year quarter. Eight analysts had consensus revenue estimate of $375.62 million for the quarter.
PXP's Board of Directors approved a $900 million to $1.1 billion 2010 capital budget versus an estimated $1.55 billion 2009 capital budget.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.