| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 376.55 | 63.0% |
| Total Income | 376.55 | 63.0% |
| Expenditure | 346.82 | 6.8% |
| PBT | 63.31 | 158.7% |
| Net Profit | 44.08 | 156.0% |
| OPM | 22.85% | 63.41pp |
| NPM | 11.71% | 45.76pp |
| EPS | 0.42 | 145.2% |
BKV Corporation Reports Q1 2026 Results: Net Income $44.1 Million
07 May 2026 · 7 May, 4:37 pm
Summary
BKV Corporation reported its financial and operational results for the first quarter of 2026, highlighted by a net income of $44.1 million. The company achieved an adjusted EBITDAX of $112.0 million and net cash provided by operating activities of $72.0 million. BKV also closed the BKV-BPP Power transaction, increasing its ownership in the joint venture to 75%, and completed an equity offering. The company is focused on long-term power growth and advancing its closed loop strategy.
Key Highlights
- 1
BKV Corporation reported a net income attributable to BKV of $44.1 million, or $0.42 per diluted share, for the first quarter of 2026.
- 2
Adjusted EBITDAX attributable to BKV reached $112.0 million in Q1 2026.
- 3
The company's net cash provided by operating activities was $72.0 million for the quarter.
- 4
Average net production was 925.0 MMcfe/d during the first quarter of 2026.
- 5
BKV closed the acquisition of an incremental 25% ownership of the Power JV on January 30, 2026, increasing its stake to 75%.
- 6
The company completed an underwritten public offering of approximately 7.0 million shares of common stock, generating net proceeds of $186.2 million.
- 7
Barnett Zero sequestered approximately 35,800 metric tons of CO2 equivalent during the first quarter of 2026.
Management Comments
Chris Kalnin
“We continued to deliver on our promises in the first quarter of 2026 through strong execution across the business and the achievement of several important milestones,” “During the quarter, we closed the BKV-BPP Power transaction, increasing our ownership in the joint venture to 75%, completed an equity offering, achieved first injection at our Cotton Cove CCUS project, and materially advanced our process toward a PPA at the Temple Energy Complex, all while maintaining operational excellence across our existing business lines.” “We also continued to strengthen our positioning for long-term power growth with the announcement of 1.2 GW of turbine reservations and additional site control with 6,200 acres in North Central Texas and nearly 800 additional acres around our Temple facility,” “These actions, combined with the continued advancement of our closed loop strategy, position BKV to capitalize on the opportunities ahead and drive long-term value for our shareholders.”
David Tameron
“Our first quarter results reflect a continued focus on disciplined capital allocation as we invest in growth across our platform,” “We generated strong free cash flow from our base business and deployed capital strategically, while maintaining a solid balance sheet and substantial liquidity.” “In addition, we successfully executed an equity offering to support the continued expansion of our power business, reinforcing our ability to fund strategic initiatives while preserving financial flexibility,” “This balanced approach positions us to drive sustained growth while maintaining a strong financial foundation.”
Informational and educational content only. Not investment advice.