Pioneer Natural Resources Reports 1Q Loss

DALLAS (AP) — Pioneer Natural Resources Co. said on Tuesday that it lost $14.6 million in the first quarter as it was hurt by low commodity prices.

The independent oil and gas company said its loss of 13 cents per share for the quarter that ended March 31 compared with a profit of almost $128 million, or $1.07 per share, during the same period last year. Revenue fell 17.3 percent to $484.2 million, from $585.2 million a year ago.

It said its net loss would have been smaller by $2 million, or 2 cents per share, if not for unusual items. Analysts surveyed by Thomson Reuters, who generally exclude unusual items, were expecting a loss of 26 cents per share on revenue of $349.2 million. ...