Quarterly ResultMay 6, 2026, 05:02 PM
SandRidge Q1 Net Income $18.7M; Raises Quarterly Dividend 8% to $0.13
AI Summary
SandRidge Energy, Inc. announced strong financial and operational results for the first quarter ended March 31, 2026, with net income rising to $18.7 million and adjusted EBITDA reaching $33.7 million. The company also reported a 4% increase in daily production and a 17% rise in total revenues year-over-year. Demonstrating a commitment to shareholder returns, the Board increased its ongoing quarterly dividend by 8% to $0.13 per share and declared an additional one-time dividend of $0.20 per share.
Key Highlights
- SandRidge increased its ongoing quarterly dividend by 8% to $0.13 per share.
- The Board declared a one-time dividend of $0.20 per share.
- Q1 2026 net income was $18.7 million, or $0.51 per basic share, up from $13.0 million YoY.
- Adjusted EBITDA for Q1 2026 was $33.7 million, an increase from $25.5 million YoY.
- Cash and cash equivalents totaled $104.1 million as of March 31, 2026.
- Production averaged 18.6 MBoe per day in Q1, a 4% increase on a Boe basis YoY.
- Total revenues increased 17% to $49.8 million in Q1 2026 versus the same period in 2025.
- Lease operating expense (LOE) decreased to $6.45 per Boe in Q1 2026 from $6.79 per Boe YoY.