Quarterly ResultMay 6, 2026, 04:09 PM
HighPeak Energy Q1 Net Loss $127.4M; Revenue Down 20.7%
AI Summary
HighPeak Energy reported a net loss of $127.4 million for Q1 2026, a significant decline from a net income of $36.3 million in Q1 2025. Total operating revenues decreased by 20.7% to $215.9 million, primarily due to lower crude oil, NGL, and natural gas sales. The company also incurred a substantial net loss of $157.0 million on derivative instruments, compared to a $7.9 million loss in the prior year period. Operating cash flow also saw a considerable reduction, and no dividends were declared.
Key Highlights
- Net loss of $127.4 million in Q1 2026, compared to net income of $36.3 million in Q1 2025.
- Basic net loss per share was $1.02, down from earnings per share of $0.26 in Q1 2025.
- Total operating revenues decreased 20.7% to $215.9 million from $272.3 million year-over-year.
- Crude oil sales fell to $199.2 million from $246.4 million in Q1 2025.
- Net loss on derivative instruments was $157.0 million, significantly higher than $7.9 million in Q1 2025.
- Net cash provided by operating activities decreased to $54.2 million from $157.1 million.
- No dividends declared per share in Q1 2026, compared to $0.04 in Q1 2025.
- Additions to crude oil and natural gas properties were $78.8 million, down from $179.8 million.