Revenue: As of FY2026 Q1, the actual value is USD 128.26 M.EPS: As of FY2026 Q1, the actual value is USD -0.36, missing the estimate of USD 0.125.EBIT: As of FY2026 Q1, the actual value is USD 25.17 M.Granite Ridge Resources, Inc. operates in one reporting segment: oil and natural gas development, exploration, and production.<h4>Operational Metrics</h4><ul><li>Net Income (Loss): The company reported a net loss of - $47,031 thousand for the three months ended March 31, 2026, compared to a net income of $9,812 thousand for the same period in 2025.</li><li>Net Operating Income: Net operating income was $14,849 thousand for Q1 2026, a decrease from $42,535 thousand in Q1 2025.</li><li>Lease Operating Expenses: These expenses increased to $29,679 thousand ($9.57 per Boe) in Q1 2026 from $16,240 thousand ($6.17 per Boe) in Q1 2025.</li><li>Production and Ad Valorem Taxes: Totaled $8,236 thousand ($2.66 per Boe) in Q1 2026, slightly down from $8,368 thousand ($3.18 per Boe) in Q1 2025.</li><li>Depletion and Accretion Expense: Increased to $54,979 thousand ($17.72 per Boe) in Q1 2026 from $48,445 thousand ($18.41 per Boe) in Q1 2025.</li><li>Impairments of Long-Lived Assets: The company recognized an impairment expense of $11,174 thousand in Q1 2026, with no impairment recorded in Q1 2025.</li><li>General and Administrative Expenses: Rose to $9,080 thousand ($2.93 per Boe) in Q1 2026 from $7,463 thousand ($2.84 per Boe) in Q1 2025.</li><li>Loss on Derivatives - Commodity Derivatives: Resulted in a loss of - $72,027 thousand in Q1 2026, significantly higher than the - $14,857 thousand loss in Q1 2025, including net cash payments of - $11,842 thousand and an unrealized loss of - $60,185 thousand in Q1 2026.</li><li>Interest Expense, Net: Increased to - $10,319 thousand in Q1 2026 from - $5,015 thousand in Q1 2025.</li><li>Gain (Loss) on Equity Investments: The company recorded a gain of $6,675 thousand in Q1 2026, a reversal from a loss of - $9,971 thousand in Q1 2025.</li></ul><h4>Segment Revenue</h4><ul><li>Total Oil and Natural Gas Sales: Increased to $128,264 thousand in Q1 2026 from $122,931 thousand in Q1 2025.</li><li>Oil Sales: Increased by 13% to $103,446 thousand in Q1 2026.</li><li>Natural Gas Sales: Decreased by 20% to $24,818 thousand in Q1 2026.</li><li>Revenue by Basin (Q1 2026): Permian: $87,049 thousand; Eagle Ford: $6,569 thousand; Bakken: $6,412 thousand; Haynesville: $11,953 thousand; DJ: $7,489 thousand; Appalachian: $8,792 thousand.</li></ul><h4>Production Volumes</h4><ul><li>Total Net Production: Increased to 3,102 MBoe in Q1 2026 from 2,632 MBoe in Q1 2025.</li><li>Average Daily Production: Rose to 34,467 Boe per day in Q1 2026 from 29,245 Boe per day in Q1 2025.</li><li>Net Producing Wells: Increased from 211.63 net wells on March 31, 2025, to 245.55 net wells on March 31, 2026.</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Provided by Operating Activities: Decreased to $58,348 thousand in Q1 2026 from $76,091 thousand in Q1 2025.</li><li>Net Cash Used in Investing Activities: Decreased to - $68,647 thousand in Q1 2026 from - $99,997 thousand in Q1 2025, with capital expenditures for oil and natural gas properties at - $60,378 thousand in Q1 2026.</li><li>Net Cash Provided by Financing Activities: Decreased to $25,509 thousand in Q1 2026 from $30,595 thousand in Q1 2025, including $40,000 thousand in borrowings and - $14,461 thousand in dividend payments.</li><li>Cash at End of Period: Cash balance was $30,056 thousand as of March 31, 2026, up from $16,108 thousand as of March 31, 2025.</li></ul><h4>Unique Metrics</h4><ul><li>Liquidity: As of March 31, 2026, Granite Ridge Resources, Inc. had $314.8 million in liquidity, comprising $284.7 million in committed borrowing availability and $30.1 million in cash on hand.</li><li>Debt: Total debt outstanding included $350.0 million in 8.875% senior unsecured notes and $90.0 million under the senior secured revolving credit agreement as of March 31, 2026.</li><li>Derivative Contracts: As of March 31, 2026, the company had oil collar contracts covering 2,754,080 Bbl for 2026 and natural gas collar contracts covering 7,447,095 Mcf for 2026, along with oil and natural gas swap contracts.</li><li>Stock-Based Compensation Expense: $1.4 million in Q1 2026, up from $0.7 million in Q1 2025.</li></ul><h4>Future Outlook and Strategy</h4>Granite Ridge Resources, Inc. budgets approximately $345 million to $385 million in total capital expenditures for 2026, including $45 million to $55 million for acquisitions, which it expects to fund through cash on hand, operations, and available borrowing capacity. Management believes existing liquidity sources will suffice for budgeted capital expenditures and operating expenses for at least the next twelve months, while continuously monitoring capital sources and potentially adjusting expenditures based on market factors. The company employs derivative financial instruments to hedge a portion of anticipated future oil and natural gas production to mitigate commodity price risk, and has entered into new derivative contracts subsequent to March 31, 2026, for estimated future production.

Granite Ridge Resources | 10-Q: FY2026 Q1 Revenue: USD 128.26 M