SD earnings analysis
What we found in SD'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
SandRidge Energy, Inc. (SD) exceeded analyst expectations for Q1 2026, reporting revenues of $49.8 million and EPS of $0.58, boosted by a surge in oil production. Despite achieving a 17% year-over-year revenue increase, the company experienced negative cash flow impacts and did not issue forward-looking guidance.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth Surpassed Expectations
- Actual revenue reached $49.8 million, above estimates of $44.7 million, reflecting a 17% increase from $42.6 million in Q1 2025.
- Strong EPS Performance
- EPS was reported at $0.58, exceeding the estimated $0.41 by 42%, and an increase from $0.35 in the same quarter last year.
- Significant Oil Production Increase
- Oil production increased by 83 MBbls to 353 MBbls in Q1 2026, contributing to higher revenue growth.
- Improved Gross Margin
- Gross margin improved, marking an increase from previous quarters at 34.5% in Q1 2025 to a stable level this quarter.
- Cash Reserves Healthy
- The company reported cash and cash equivalents of $104.1 million, ensuring adequate liquidity.
- Dividend Increases
- Quarterly dividend raised by 8% to $0.13, in addition to a one-time dividend of $0.20.
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.
- Negative Free Cash Flow
- Free cash flow was reported at -$3.8 million due to heavy capital expenditures.
- Rising Operating Costs
- Total operating expenses rose to $25.3 million, an increase from $24.0 million in Q1 2025.
- Commodity Price Risk Remains
- Commodity price fluctuations could significantly impact revenues, given the historical volatility in oil and natural gas prices.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.58
- Gross margin
- 34.5%
- Segment
- Oil
- Segment
- Natural Gas
- Segment
- NGL
What they said about what is next.
No forward guidance was provided in this filing.
The filing reads better than the one before it.
What came before.
- 10-K · March 5, 2026
- SandRidge (SD) reports stronger 2025 operational and liquidity metrics: proved reserves rose to 69.1 MMBoe and PV-10 increased to $439.6M, while production rose to 6,768 MBoe and consolidated revenues increased to…
- 10-Q · August 7, 2025
- SandRidge reported Q2 revenue of $34.531M, up 32.9% from $25.977M a year ago, with operating income rising to $18.534M (vs. $6.220M) and diluted EPS improving to $0.53 (vs. $0.24). The company generated strong cash from…
- 10-Q · May 8, 2024
- SandRidge reported Q1 2024 revenue of $30.283M (down from $43.147M a year ago) and net income of $11.125M ($0.30 diluted). Operating cash flow was $15.681M and the company generated approximately $14.557M of free cash…
- 10-K · March 7, 2024
- SandRidge (SD) is a Mid‑Continent focused independent oil & gas producer prioritizing cash generation, disciplined capital allocation and opportunistic acquisitions while seeking to use NOLs to minimize taxes. The 2023…
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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