Quarterly ResultMay 13, 2026, 04:19 PM
Phoenix Energy Q1 Net Loss $(140.1M); Revenue $298.7M
AI Summary
Phoenix Energy One, LLC reported a net loss of $(140.1) million for the first quarter of 2026, a significant decline from a net income of $5.6 million in the prior year period. This loss occurred despite a substantial increase in total revenues, which rose to $298.7 million from $115.7 million year-over-year. The net loss was primarily driven by a large loss on derivatives of $(178.8) million. The company also reported negative working capital of $(358.1) million as of March 31, 2026, but management expects to meet obligations through operating cash flows and continued debt/equity issuances, having raised an additional $92.7 million in notes post-quarter end.
Key Highlights
- Phoenix Energy reported a net loss of $(140.1) million for Q1 2026, compared to a net income of $5.6 million in Q1 2025.
- Total revenues increased to $298.7 million in Q1 2026, up from $115.7 million in Q1 2025.
- The company recorded a loss on derivatives of $(178.8) million in Q1 2026, versus a gain of $1.9 million in Q1 2025.
- Cash and cash equivalents stood at $70.2 million as of March 31, 2026.
- Net cash provided by operating activities significantly increased to $103.8 million in Q1 2026 from $18.1 million in Q1 2025.
- Proceeds from debt issuances, net of discount, were $185.6 million in Q1 2026.
- Total liabilities increased to $2,041.3 million as of March 31, 2026.
- The company had negative working capital of $(358.1) million as of March 31, 2026.