REI earnings analysis
What we found in REI's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Ring Energy's Q1 2026 results indicate continued challenges, with revenue decreasing to $67M from $79M in the previous quarter, and a diluted EPS loss of -$0.06, down from a loss of -$0.25 in Q4 2025. Free cash flow has improved to $19M, reflecting ongoing operational adjustments.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Dipped
- Q1 2026 revenue declined to $67 million, a decrease from $79 million in Q4 2025.
- Negative EPS Consistency
- Reported diluted EPS was -$0.06 for Q1 2026, continuing the trend of losses with -$0.25 reported in Q4 2025.
- Improvement in Free Cash Flow
- Generated free cash flow of $19 million in Q1 2026, up from -$3 million in Q1 2025.
- Stable Operating Margin
- Operating margins remained negative but improved to -37.6% in Q1 2026 from -70.0% in Q3 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Ongoing Net Loss
- The company reported a net loss of $12.8 million for Q4 2025, raising concerns about profitability.
- Weak Revenue Trends
- Quarterly revenue has consistently declined from $89 million in 2024Q3 to $67 million in Q1 2026.
- Potential for Increased Volatility
- Recent geopolitical tensions may exacerbate operational risks and affect prices.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.06
- Operating margin
- -37.6%
What they said about what is next.
Outlook for revenue and EPS continued to lack numeric guidance in the filing.
The filing reads worse than the one before it.
What came before.
- 10-K · March 4, 2026
- Ring Energy’s 10-K emphasizes a strategy of developing its Permian Basin acreage and pursuing accretive acquisitions to increase stockholder value, citing 153,277,821 Boe of proved reserves and a pre-tax PV-10 of…
- 10-Q · May 7, 2025
- Ring Energy reported Q1 revenue of $79,091,000 and diluted EPS of $0.05, missing consensus revenue ($82,760,000) and EPS ($0.06). Operating margin remained 28.3% while free cash flow was negative $3,000,000 for the…
- 10-Q · November 6, 2024
- Ring Energy reported Q3 revenue of $89,244,000 (quarter ended September 30, 2024), beating consensus of $86,740,000 by $2,504,000 (+2.89%); diluted EPS was $0.07, in line with the $0.07 estimate. The 10-Q contains no…
- 10-Q · August 6, 2024
- Ring Energy reported quarterly revenue of $99,139,000 and diluted EPS of $0.12 for the quarter ended June 30, 2024. Operating margin improved to 42.2% while gross margin remained at 100.0%; free cash flow rose to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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