Quarterly ResultMay 7, 2026, 05:41 PM
Granite Ridge Q1 Net Loss $(47.03)M; Derivative Losses Widen
AI Summary
Granite Ridge Resources reported a net loss of $(47.03) million for the first quarter of 2026, a significant decline from a net income of $9.81 million in the prior year. This was primarily driven by a substantial increase in losses on commodity derivatives, which reached $(72.03) million, and higher operating costs. Despite the net loss, oil and natural gas sales saw a modest increase to $128.26 million.
Key Highlights
- Reported a net loss of $(47.03) million for Q1 2026, compared to a net income of $9.81 million in Q1 2025.
- Basic net loss per share was $(0.36) for Q1 2026, down from $0.07 earnings per share in Q1 2025.
- Oil and natural gas sales increased to $128.26 million in Q1 2026 from $122.93 million in Q1 2025.
- Loss on commodity derivatives significantly widened to $(72.03) million in Q1 2026 from $(14.86) million in Q1 2025.
- Total operating costs and expenses rose to $113.42 million in Q1 2026 from $80.40 million in Q1 2025.
- Recognized $11.17 million in impairments of long-lived assets in Q1 2026, compared to none in Q1 2025.
- Net cash provided by operating activities decreased to $58.35 million in Q1 2026 from $76.09 million in Q1 2025.
- Declared a common stock dividend of $0.11 per share for the quarter.
Price Impact
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