| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 322.45 | 14.4% | 55.7% |
| Total Income | 322.45 | 14.4% | 55.7% |
| Expenditure | 343.88 | 0.8% | 336.7% |
| PBT | 97.48 | 54.0% | 26.5% |
| Net Profit | 75.81 | 72.0% | 27.5% |
| OPM | 37.73% | 14.88pp | 24.26pp |
| NPM | 23.51% | 11.80pp | 26.97pp |
| EPS | 0.68 | 61.9% | 44.7% |
BKV Corporation Reports Q2 2026 Financial and Operational Results
06 Aug 2026 · 6 Aug, 4:38 pm
Summary
BKV Corporation reported its second quarter 2026 financial and operational results, highlighting net income attributable to BKV of $75.8 million and adjusted EBITDAX of $142.0 million. The company generated $109.7 million in net cash from operating activities. Key operational achievements include the commencement of commercial operations at two new CCUS projects, Cotton Cove and Eagle Ford, which are projected to significantly reduce annual CO2 waste. Management expressed satisfaction with the quarter's performance, emphasizing consistent execution and advancement of strategic priorities, including bringing new carbon capture projects online and delivering strong upstream business results.
Key Highlights
- 1
BKV Corporation reported net income attributable to BKV of $75.8 million, or $0.67 per diluted share, for the second quarter of 2026.
- 2
Adjusted EBITDAX attributable to BKV reached $142.0 million in the second quarter of 2026.
- 3
Net cash provided by operating activities was $109.7 million for the second quarter of 2026.
- 4
The company commenced commercial operations at the Cotton Cove and Eagle Ford CCUS projects, expected to sequester over 120,000 metric tons of CO2 waste annually.
- 5
Total capital expenditures (accrued) for the second quarter of 2026 were $72.4 million.
- 6
The Net Leverage Ratio stood at 1.78x at the end of the second quarter of 2026.
Management Comments
Chris Kalnin
Our performance this quarter reflects the consistency of our execution. We met or exceeded our operating targets while advancing each of our strategic priorities. During the quarter, we brought two additional carbon capture projects into operation, delivered strong results across our upstream business, and advanced commercial discussions toward a long-term power purchase agreement. Our strategy has always been to build from a position of operational strength. That disciplined approach continues to create new opportunities across our power and carbon capture businesses while reinforcing the strong operational foundation of our upstream operations. Together, these complementary businesses position us to create long-term value for our shareholders.
David Tameron
Our financial strategy is grounded in disciplined capital allocation, a strong balance sheet, and prudent liquidity management. During the quarter, we maintained substantial liquidity while continuing to invest in our phased power strategy and expanding our carbon capture platform. Supported by the cash flow generated from our upstream business, we are able to fund these strategic investments while preserving financial flexibility and maintaining a disciplined balance sheet. Our approach to capital deployment remains disciplined and milestone-driven. We will continue to align investment with commercial progress, maintain a prudent leverage profile, and preserve financial flexibility as we execute our growth strategy. This approach allows us to pursue the opportunities we believe will create the greatest long-term value for our shareholders.
Informational and educational content only. Not investment advice.