--- title: "Talos Energy | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 472.31 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285476756.md" datetime: "2026-05-07T03:09:12.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285476756.md) - [en](https://longbridge.com/en/news/285476756.md) - [zh-HK](https://longbridge.com/zh-HK/news/285476756.md) --- # Talos Energy | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 472.31 M Revenue: As of FY2026 Q1, the actual value is USD 472.31 M, beating the estimate of USD 450.03 M. EPS: As of FY2026 Q1, the actual value is USD -1.52, missing the estimate of USD -0.1774. EBIT: As of FY2026 Q1, the actual value is USD -151.7 M. Talos Energy Inc. operates through one reportable segment, Upstream, which focuses on the exploration and production of oil, natural gas, and natural gas liquids (NGLs). #### Segment Revenue For the three months ended March 31, 2026, total revenues for the Upstream segment were $472,310 thousand, a decrease from $513,059 thousand in the same period of 2025. Oil revenue was $407,998 thousand in 2026, down from $440,723 thousand in 2025. Natural gas revenue was $52,903 thousand in 2026, compared to $52,735 thousand in 2025. NGL revenue was $11,409 thousand in 2026, a decrease from $19,601 thousand in 2025. #### Operational Metrics - **Net Income (Loss)**: The net loss for the Upstream segment was - $256,004 thousand for the three months ended March 31, 2026, significantly higher than the net loss of - $9,868 thousand in the prior year period. - **Operating Expenses**: Total operating expenses increased to $591,736 thousand in 2026 from $469,608 thousand in 2025. - Lease operating expense remained relatively flat at $129,035 thousand in 2026 compared to $127,805 thousand in 2025. - Direct operating and maintenance costs were - $114,704 thousand in 2026, down from - $125,567 thousand in 2025. - Workover costs increased significantly to - $14,331 thousand in 2026 from - $2,238 thousand in 2025. - Depreciation, depletion and amortization (DD&A) expense decreased by approximately $50.3 million, or 18%, to $230,384 thousand in 2026 from $280,716 thousand in 2025. - Impairment of oil and natural gas properties was $145,018 thousand in 2026, with no impairment recorded in 2025. - General and administrative expense increased by approximately $6.4 million, or 18%, to $40,970 thousand in 2026. - Other operating expense shifted to $11,347 thousand in 2026, from an income of - $4,536 thousand in 2025. - **Interest Expense**: Interest expense was - $39,178 thousand in 2026, down from - $40,927 thousand in 2025. - **Price Risk Management Activities**: Expenses from price risk management activities increased to - $173,547 thousand in 2026 from - $15,853 thousand in 2025. - **Equity Method Investment Income (Expense)**: The company reported an income of $6,670 thousand in 2026, compared to an expense of - $490 thousand in 2025. - **Income Tax Benefit (Expense)**: An income tax benefit of $65,292 thousand was recognized in 2026, compared to $91 thousand in 2025. - **Net Income (Loss) Per Share Attributable to Common Stockholders**: Basic and diluted net loss per share were - $1.52 in 2026, compared to - $0.05 in 2025. - **Production Volumes**: Total production volume decreased by 12.1 MBoepd to 88.8 MBoepd in 2026 from 100.9 MBoepd in 2025. - **Average Sale Price Per Unit**: Price per Boe (including realized commodity derivatives) was $56.27 in 2026, compared to $57.07 in 2025. - **Adjusted EBITDA**: Adjusted EBITDA attributable to Talos Energy Inc. was $293,207 thousand in 2026, down from $363,003 thousand in 2025. #### Cash Flow - **Net cash provided by operating activities**: - $174,001 thousand in 2026, decreased from $268,241 thousand in 2025. - **Net cash used in investing activities**: - $89,580 thousand in 2026, a decrease from - $143,308 thousand in 2025. - **Net cash used in financing activities**: - $60,458 thousand in 2026, an increase from - $29,394 thousand in 2025. #### Unique Metrics - **Borrowing Base and Liquidity**: The bank credit facility has a borrowing base of $700.0 million, with available liquidity of $989.0 million as of March 31, 2026. - **Share Repurchase Program**: During the three months ended March 31, 2026, Talos Energy Inc. repurchased approximately 2.7 million shares for $38.2 million, with the remaining authorized amount for repurchase being $200.0 million as of April 27, 2026. - **Performance Bonds**: As of March 31, 2026, outstanding performance bonds from third-party sureties totaled $1.5 billion. - **Collateral Funding Commitments**: Estimated collateral funding commitments under surety arrangements total $251,603 thousand through 2030 and thereafter, with $41,660 thousand remaining for 2026. #### Future Outlook and Strategy Talos Energy Inc. anticipates first production from the CPN well in the third quarter of 2026 and from the Monument oil discovery by late 2026, projecting a gross production of 20-30 MBoepd from these new sources. The company plans a 2026 capital spending program of $500.0 million to $550.0 million and expects plugging & abandonment and decommissioning obligations of $100.0 million to $130.0 million, funded by operating cash flows and its bank credit facility. Talos Energy Inc. continues to monitor market conditions and use hedging instruments to manage commodity price risks and maintain its financial stability. ### Related Stocks - [TALO.US](https://longbridge.com/en/quote/TALO.US.md) ## Related News & Research - [Advance Auto Parts Reports First Quarter 2026 Results; Reaffirms Full Year 2026 Guidance | AAP Stock News](https://longbridge.com/en/news/287202242.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [Halliburton declares 2026 Q2 dividend of $0.17 a share](https://longbridge.com/en/news/287276574.md) - [Endeavour Announces Results of Annual General Meeting 2026 | EDVMF Stock News](https://longbridge.com/en/news/287245296.md)