REPX earnings analysis
What we found in REPX'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
Riley Exploration Permian (REPX) reported Q1 2026 revenues of $114 million, slightly below the consensus estimate of $118.6 million, while diluted EPS fell to a loss of $3.38, missing the expected $1.08. Despite challenges with pricing and loss on derivatives, management emphasized production growth, with guidance for Q2 indicating a significant increase in total equivalent production.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Slightly Misses Estimates
- Total revenue for Q1 2026 was $114 million, compared to the estimated $118.6 million.
- Significant Production Growth
- Daily equivalent production increased to 35,600 Boe/d, up from 24,433 Boe/d in Q1 2025.
- Cash Flow from Operations
- Operating cash flow of $47.2 million was reported for Q1 2026, down from $50.4 million in Q1 2025.
- Increased Oil Production Volumes
- Oil production volumes rose 29%, reaching 1,814 MBbls compared to 1,406 MBbls in the prior year.
- Undrawn Capacity in Credit Facility
- The company had $293 million of undrawn capacity under its Credit Facility.
- Share Repurchase Activity
- In Q1 2026, REPX repurchased $4 million in common shares as part of its buyback plan.
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.
- Substantial Net Loss
- The company recorded a net loss of $(126.97) million due to derivative losses.
- Negative Realized Prices
- Natural gas sales resulted in a net loss of $(6.36) million driven by increased GP&T costs and negative pricing dynamics.
- Dependence on Waha Pricing
- The company's natural gas production is highly affected by negative pricing at the Waha Hub, leading to potential curtailed production.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-3.38
What they said about what is next.
Management anticipates total equivalent production of 35.0 - 37.0 MBoe/d for Q2 2026.
The filing reads worse than the one before it.
What came before.
- 10-K · March 4, 2026
- Riley Permian (REPX) presents a growth-focused Permian strategy anchored in horizontal drilling in Yoakum County, TX and Eddy County, NM and has meaningfully grown proved reserves to 147,415 MBoe as of December 31, 2025…
- 10-K · March 5, 2025
- Riley Permian is positioning as a Permian-focused growth E&P, expanding via New Mexico acquisitions and a long-term gas sales / midstream arrangement while emphasizing free cash flow and balance sheet flexibility.…
- 10-Q · August 7, 2024
- Riley Permian reported quarterly revenue of $105,403,000 (up from $99,912,000 a year ago) and operating income of $53,612,000, driving an operating margin of 50.9%. Net income was $33,548,000 (vs. $33,068,000 prior…
- 10-Q · August 7, 2023
- Riley Exploration Permian reported Q2 2023 revenue of $99,912,000, up from $88,381,000 in Q2 2022 and up materially versus Q1 2023 ($67,012,000). Operating income narrowed to $45,010,000 in Q2 2023 and diluted EPS was…
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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