| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 658.00 | 32.7% | 129.3% |
| Total Income | 658.00 | 32.7% | 129.3% |
| Expenditure | 230.00 | 5.3% | 51.3% |
| PBT | 403.00 | 65.8% | 342.9% |
| Net Profit | 142.00 | 46.4% | 283.8% |
| OPM | 65.05% | 14.04pp | 18.01pp |
| NPM | 21.58% | 2.02pp | 8.69pp |
| EPS | 0.73 | 35.2% | 160.7% |
Viper Energy Reports Q2 2026 Results and Increases Base Dividend
04 Aug 2026 · 4 Aug, 1:38 am
Summary
Viper Energy reported strong second quarter 2026 results, highlighted by steady development activity and a differentiated acquisition strategy. The company announced a significant 32% increase to its annual base dividend to $2.00 per Class A share, effective Q3 2026, signaling a shift towards a more durable and growing base dividend. This evolution in capital return strategy, coupled with increased flexibility, will support opportunistic share repurchases and accretive M&A. Full year 2026 production guidance was also increased, reflecting continued organic and inorganic growth.
Key Highlights
- 1
Viper Energy reported Q2 2026 consolidated net income of $331 million and net income attributable to Viper of $142 million, or $0.73 per Class A common share.
- 2
The company declared a Q2 2026 base cash dividend of $0.38 per Class A common share and a variable cash dividend of $0.29 per Class A common share, totaling $0.67 per Class A common share.
- 3
Viper Energy announced a 32% increase to its annual base dividend, effective Q3 2026, to $2.00 per Class A share.
- 4
Average daily production for Q2 2026 was 65,077 bo/d, with guidance for full year 2026 increased to 66,000 to 67,250 bo/d.
- 5
During Q2 2026, the company repurchased approximately 3.0 million shares of Class A common stock for approximately $132 million.
- 6
Total Q2 2026 return of capital to Class A stockholders was $197 million, representing 75% of cash available for distribution.
Management Comments
Kaes Van’t Hof
The second quarter continued the trend of strong execution for Viper, highlighted by steady development activity from both Diamondback and our third-party operators across our high-quality asset base, as well as a continuation of our differentiated acquisition strategy. Reflecting this momentum, we are increasing our full year 2026 production guidance while initiating third quarter guidance that implies continued growth in oil production per share driven by both organic and inorganic growth. Separately, today we announced an important evolution of our return of capital strategy. Our Board approved a 32% increase to our base dividend to $2.00 per Class A share annually, a level we expect to be fully protected down to approximately $30 per barrel WTI and which represents approximately 50% of cash available for distribution at $70 per barrel WTI. With this increase, and a commitment to grow the base dividend steadily over time, we are moving away from our commitment to return at least 75% of cash available for distribution each quarter. We believe a single, durable and growing base dividend, rather than a variable payout that fluctuates with commodity prices, best showcases what differentiates Viper: an industry-leading, low-breakeven yield paired with consistent per-share growth. The flexibility created by retaining excess cash flow will allow us to continue to opportunistically repurchase shares, reduce debt and pursue a disciplined M&A strategy, all of which we expect to compound value for our stockholders over the long term.
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