Quarterly ResultMay 8, 2026, 06:07 AM
Baytex Energy Q1 Net Loss $(67.3M) CAD; Production Up 11%; $174.3M Buyback
AI Summary
Baytex Energy reported a net loss of $(67.3) million CAD for Q1 2026, a significant shift from a net income of $69.6 million CAD in Q1 2025, primarily driven by a substantial financial derivatives loss of $150.8 million CAD. Despite the loss, the company achieved strong operational performance with production increasing by 11% to 69,478 boe/d and executed $174.3 million CAD in share repurchases. Baytex also declared a quarterly dividend of $0.0225 per share and completed the final closing adjustments for its divested U.S. Eagle Ford operations.
Key Highlights
- Net loss of $(67.3) million CAD in Q1 2026, compared to net income of $69.6 million CAD in Q1 2025.
- Net loss per share (basic) of $(0.09) CAD in Q1 2026, vs $0.09 CAD income in Q1 2025.
- Production increased 11% to 69,478 boe/d in Q1 2026 from 62,380 boe/d in Q1 2025.
- Executed $174.3 million CAD in share repurchases, cancelling 35.1 million common shares.
- Financial derivatives loss was $150.8 million CAD in Q1 2026, up from $49.6 million CAD in Q1 2025.
- Cash flows from operating activities were $122.2 million CAD, down from $431.3 million CAD.
- Declared a quarterly cash dividend of $0.0225 per share payable July 2, 2026.
- Completed final closing adjustments of $12.4 million CAD for discontinued U.S. operations.