No. What you want to do is maintain a set difference. Say 500 calories per day deficit, to lose a pound a week, because that's an appropriate loss rate for your body.
If you work out more than planned, and don't eat back those calories, say you do an 'extra' 300 calories of exercise, now you have an 800 calorie deficit. For some people that will work. For others, their body goes "Whoah - WAY too little food, time to switch on fat storing!"
Now, getting into a fat storage mode really takes a consistent habit of under eating, but the basic premise is there. Safe healthy weight loss is achieved by maintaining a specific target daily deficit, so that if you exercise above plans and increase the deficit, it's best to eat that back and maintain the same consistent daily deficit overall.
Deb, in New Zealand