| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 149.27 | 16.4% | 36.7% |
| Total Income | 149.27 | 16.4% | 36.7% |
| Expenditure | 110.26 | 2.8% | 24.6% |
| PBT | 38.87 | 164.1% | 18.3% |
| Net Profit | 30.00 | 163.8% | 19.6% |
| OPM | 26.14% | 14.56pp | 7.15pp |
| NPM | 20.09% | 56.76pp | 2.87pp |
| EPS | 0.23 | 163.9% | 21.1% |
Granite Ridge Reports Q2 2026 Results and Declares Dividend
07 Aug 2026 · 7 Aug, 2:12 am
Summary
Granite Ridge Resources, Inc. reported its second quarter 2026 financial and operating results, highlighting a 1% increase in daily production to 32,044 Boe per day year-over-year. Net income rose to $30.0 million ($0.23 per diluted share) from $25.1 million ($0.19 per diluted share) in the same period last year, while Adjusted EBITDAX reached $79.6 million. The company invested $95.2 million in capital expenditures, including $78.5 million for drilling and completions, and brought 7.2 net wells online. Management noted that 2026 is the final year of investing ahead of cash flow, with a plan to reach a free cash flow inflection in 2027, emphasizing a focus on durable growth, double-digit free cash flow yield, and a well-covered dividend.
Key Highlights
- 1
Granite Ridge grew daily production by 1% to 32,044 barrels of oil equivalent per day in the second quarter of 2026 compared to the prior year period.
- 2
The company reported a net income of $30.0 million, or $0.23 per diluted share, an increase from $25.1 million, or $0.19 per diluted share, in the second quarter of 2025.
- 3
Adjusted EBITDAX (non-GAAP) for the second quarter of 2026 totaled $79.6 million, up from $75.4 million in the prior year period.
- 4
Capital expenditures for the quarter were $95.2 million, comprising $78.5 million in drilling and completions and $16.7 million for acquisitions.
- 5
The company placed 7.2 net wells online during the second quarter of 2026.
- 6
A quarterly cash dividend of $0.11 per share was declared, consistent with the previous quarter.
- 7
Net Debt to Trailing Twelve Months Adjusted EBITDAX stood at 1.4x as of June 30, 2026.
Management Comments
Tyler Farquharson
2026 is the final year in which we expect to invest ahead of cash flow, and our second quarter activity advanced the plan we have laid out to reach a free cash flow inflection in 2027. During the quarter we brought new wells online, added high-return inventory, and maintained a conservative balance sheet and our quarterly dividend. Our Operated Partnership platform remains our principal differentiator. Through Admiral Permian Resources, and through the additional partnerships we are developing, we fund development on acreage sourced through our partners' operating relationships rather than through broadly marketed packages, adding inventory at attractive entry costs while retaining control of our capital. We underwrite every opportunity to a full-cycle return above 25% at strip pricing, and in the first half of 2026 we replaced inventory faster than we developed it. Our strategy does not depend on a higher commodity price environment; our underwriting discipline and hedge program are designed to protect cash flow across a range of outcomes. We remain focused on executing toward our 2027 framework of durable growth, a double-digit free cash flow yield, and a well-covered dividend.
Informational and educational content only. Not investment advice.