Pioneer Southwest Energy misses Q2 estimates, reports profit

Pioneer Southwest Energy Partners L.P. (NYSE:PSE) is off 6% to a 52-week low today after announcing after Monday’s close its second-quarter earnings had missed analyst expectations. For the quarter ended June 30, net income was $26 million, compared to $12.96 million a year earlier. Income since the May 6, 2008 closing date for the initial public offering was $16 million or $0.53 per common unit. Analysts were expecting earnings of $0.78 per unit.

At 3:32 p.m. ET, shares are at $18.17, down $1.09 from Monday’s close. Trading volume is more than double the average number of shares. Since the initial public offering, shares have ranged from today’s low of $17.75 to a high of $22.68.

For detailed price information and recent news stories about Pioneer Southwest Energy Partners L.P., click PSE.

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