BKV (BKV) Q3 FY2026 earnings: revenue $390 million, up 37.3% on the year
BKV Corp. (BKV) reported revenue of $390 million for Q3 FY2026, the quarter ended 30 September 2026, up 37.3% on the same quarter a year earlier. Net income was $29 million, down 64.8% on the year, and diluted earnings per share $0.27. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.
Revenue
$390 million
+37.3% on the year · +21.0% on the quarter
Q4 FY2024Q3 FY2026
Operating margin
17.2%
48.9% a year earlier
Q4 FY2024Q3 FY2026
Net income
$29 million
-64.8% on the year · -61.2% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$0.27
-72.4% on the year · -59.7% on the quarter
Q4 FY2024Q3 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 14 new, 1 kept.
Net income fell, Adjusted EPS rose: Net income attributable to BKV was $29.4 million, or $0.27 per diluted share, compared with $83.5 million a year earlier. Adjusted EPS attributable to BKV was $0.36, against $0.27.
Adjusted EBITDAX higher year on year: Adjusted EBITDAX attributable to BKV was $132.7 million, against $101.3 million in the third quarter of 2025. Net cash provided by operating activities was $164.5 million.
Power prices below expectations: Management said record ERCOT demand did not lift wholesale prices or spark spreads above expectations, as renewables and battery storage moderated peak pricing.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.
Cash flow
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
164
110
74.5
+49.9%
+120.7%
Capital expenditure
81.5
86.8
201
-6.2%
-59.6%
Free cash flow
83.0
22.9
-127
+262.3%
Free cash flow margin
21.3%
7.1%
-44.6%
Cash from investing
-389
-237
-305
Cash from financing
692
-8.9
293
+136.5%
Depreciation and amortisation
52.3
54.1
38.0
-3.3%
+37.7%
Share-based compensation
4.8
6.4
2.9
-24.7%
+63.7%
Diluted shares, weighted
109m
110m
85m
-0.4%
+28.7%
Shares outstanding at period end
108m
109m
90m
-1.3%
+20.0%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
2,246
2,297
1,793
-2.2%
+25.2%
Non-controlling interest
150
75.9
6.8
+97.2%
+2,102.8%
Redeemable equity
25.5
30.2
6.0
-15.6%
+324.2%
Debt
2,006
1,250
487
+60.5%
+312.4%
Other liabilities
658
582
600
+13.1%
+9.8%
Total liabilities and equity
5,086
4,235
2,892
+20.1%
+75.8%
Goodwill
18.4
18.4
18.4
0.0%
0.0%
Cash and equivalents
620
152
83.1
+307.1%
+645.4%
Inventory
19.1
18.0
6.4
+6.2%
+197.2%
Other assets
4,429
4,047
2,784
+9.4%
+59.1%
Total assets
5,086
4,235
2,892
+20.1%
+75.8%
Questions
What was BKV's revenue in Q3 FY2026?
BKV (BKV) reported revenue of $390 million for Q3 FY2026, the quarter ended 30 September 2026, up 37.3% on the same quarter a year earlier.
How much did BKV earn in Q3 FY2026?
Net income for Q3 FY2026 was $29 million, down 64.8% on the year, and diluted earnings per share $0.27.
When did BKV report Q3 FY2026 results?
BKV filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.