Quarterly ResultMay 7, 2026, 04:30 PM
Granite Ridge Q1 Net Loss $47M; Production +18%; Declares $0.11 Dividend
AI Summary
Granite Ridge Resources reported a net loss of $47.0 million, or $0.36 per share, for Q1 2026, a significant decline from net income in the prior year, primarily due to non-cash mark-to-market losses on hedges and an impairment. Despite the loss, daily production grew 18% to 34,467 Boe/day, and the company generated $71.0 million in Adjusted EBITDAX. The Board also declared a regular quarterly dividend of $0.11 per share and updated its 2026 guidance.
Key Highlights
- Q1 2026 net loss was $47.0 million, or $0.36 per share, versus $9.8 million net income in Q1 2025.
- Adjusted Net Income (non-GAAP) for Q1 2026 totaled $3.1 million, or $0.02 per diluted share.
- Daily production increased 18% to 34,467 Boe/day (48% oil) in Q1 2026 from Q1 2025.
- Adjusted EBITDAX (non-GAAP) for Q1 2026 was $71.0 million, down from $91.4 million in Q1 2025.
- The Board declared a regular quarterly dividend of $0.11 per share, payable June 12, 2026.
- Total capital expenditures for Q1 2026 were $68.4 million, including $10.1 million for acquisitions.
- 2026 annual production guidance is 34,000 - 36,000 Boe/day, with total capital expenditures of $345 - $385 million.
- Lease operating expenses increased 55% on a per unit basis to $9.57 per Boe.