10-K · March 6, 2026
Granite Ridge positions itself as a diversified owner of oil & gas assets across six U.S. unconventional basins, seeking private-equity-like returns via operated partnerships and non‑operated minority interests while…
Earnings analysis · 10-Q
GRNT earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Granite Ridge Resources, Inc. reported Q1 2026 earnings with revenue of $128.3 million, a decline from $130.8 million in revenue estimates, and EPS of $0.02, significantly missing expectations of $0.11. The company's…
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Granite Ridge Resources, Inc. reported Q1 2026 earnings with revenue of $128.3 million, a decline from $130.8 million in revenue estimates, and EPS of $0.02, significantly missing expectations of $0.11. The company's performance was impacted by higher lease operating costs and notable non-cash charges, although oil production increased significantly, partially offsetting declines in realized natural gas prices.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.02
What stood out
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Revenue Miss
Actual revenue stood at $128.3 million, below estimates of $130.8 million.
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Significant EPS Decline
EPS of $0.02, falling short of the $0.11 estimate.
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Oil Production Growth
Oil production increased to 1,479 MBbl, a rise from 1,328 MBbl in Q1 2025.
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Increased General and Administrative Expenses
G&A expenses rose 22% to $9.1 million from $7.5 million year-over-year.
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Capital Expenditures Primarily Funded
Total planned capital expenditures for 2026 estimated at $345 to $385 million.
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Strong Adjusted EBITDAX
Achieved an Adjusted EBITDAX of $71.0 million despite financial pressures.
What to watch
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Impending Impairment Charges
An impairment expense of $11.2 million on unproved properties was recognized in Q1 2026.
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Increased Debt Service Obligations
Interest expense rose to $10.3 million from $5.0 million, reflecting significant debt increases.
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Higher Operating Costs
Lease operating expenses surged 83% to $29.7 million from $16.2 million year-over-year.
Management's outlook
Capital expenditures for 2026 expected between $345 million and $385 million; production guidance for 2026 set between 34,000 to 36,000 Boe per day.
Earlier filings 4
10-Q · November 7, 2025
Granite Ridge reported quarter revenues of $112,671,000 and diluted EPS of $0.11 for the three months ended September 30, 2025, up versus the comparable 2024 quarter. Revenue increased to $112,671 (from $94,075) and net…
10-Q · August 7, 2025
Granite Ridge reported strong Q2 2025 operating performance driven by higher oil & gas realizations and derivative gains: revenue rose to $109,219,000 and net income to $25,081,000 (diluted EPS $0.19). However, the…
10-Q · November 7, 2024
Granite Ridge reported Q3 oil and natural gas revenue of $94,075,000 (three months ended September 30, 2024), down from $108,404,000 a year earlier. Net income fell to $9,054,000 (diluted EPS $0.07) from $17,957,000…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.