Crescent Energy (CRGY) Q2 FY2026 earnings: revenue $1.4 billion, up 55.3% on the year

Crescent Energy Co. (CRGY) reported revenue of $1.4 billion for Q2 FY2026, the quarter ended 30 June 2026, up 55.3% on the same quarter a year earlier. Net income was $493 million, up 221.6% on the year, and diluted earnings per share $1.30. The figures are the company's own, from the 10-Q it filed with the SEC on 3 August 2026.

Revenue$1.4 billionup 55.3%

Net income$493 millionup 221.6%

Diluted EPS$1.30

QuarterQ2 FY2026ended 30 June 2026

What management said

Guidance figures: 3 new.

Transaction solidifies world-class Eagle Ford position: Acquisition builds on Crescent's established operating and minerals footprint, enhancing basin-leading position. Assets directly adjacent to operations provide immediate competitive advantages for development capital allocation and operational integration.
Transaction delivers returns in line with disciplined criteria: Acquisition expected to deliver strong investment returns consistent with Crescent's disciplined underwriting standards. Meaningful accretion targeted across cash flow from operations, free cash flow, and net asset value metrics aligned with company capital allocation framework.
One hundred forty million annual synergies targeted: Management identified approximately $140 million in annual synergies across drilling and completion costs, lease operating expense, and marketing. Crescent to apply proven operating playbook to drive incremental value creation and margin improvement at acquired assets.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Revenue	1,395	1,183	898	+55.3%
Operating income	581	327	79.6	+629.6%
Operating margin	41.6%	27.7%	8.9%
Interest expense	99.8	105	75.2	+32.7%
Pre-tax income	664	-501	204	+226.0%
Income tax	170	-82.3	41.1	+313.9%
Effective tax rate	25.6%	n/a	20.2%
Net income	493	-420	153	+221.6%
Net margin	35.3%	-35.5%	17.1%
Diluted EPS	$1.30	-$1.28	$0.60	+116.7%

$ million except per share.

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. 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.

Cash flow and capital returned

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Operating cash flow	707	409	499	+41.7%
Cash from investing	-322	-682	-212	n/a
Cash from financing	-128	-448	-289	n/a
Depreciation and amortisation	358	354	297	+20.5%
Share-based compensation	21.5	23.4	93.6	-77.0%
Buybacks	0.0	0.0	28.5	n/a
Dividends paid	39.6	39.3	30.6	+29.7%
Diluted shares, weighted	382m	328m	255m	+49.4%
Shares outstanding at period end	330m	330m	255m	+29.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Shareholders' equity	5,160	4,686	4,499	+14.7%
Redeemable equity	n/a	n/a	0.0	n/a
Debt	5,166	5,238	3,374	+53.1%
Finance lease liabilities	1.4	2.3	2.3	-37.6%
Other liabilities	1,681	2,072	1,982	-15.2%
Total liabilities and equity	12,008	11,998	9,857	+21.8%
Cash and equivalents	265	9.8	3.1	+8573.3%
Other assets	11,743	11,988	9,854	+19.2%
Total assets	12,008	11,998	9,857	+21.8%

Questions

What was Crescent Energy's revenue in Q2 FY2026?

Crescent Energy (CRGY) reported revenue of $1.4 billion for Q2 FY2026, the quarter ended 30 June 2026, up 55.3% on the same quarter a year earlier.

How much did Crescent Energy earn in Q2 FY2026?

Net income for Q2 FY2026 was $493 million, up 221.6% on the year, and diluted earnings per share $1.30.

When did Crescent Energy report Q2 FY2026 results?

Crescent Energy filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 3 August 2026.

Quarterly results, the last 12 quarters

	Q3 FY2023 †	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	642	658	657	653	745	875	950	898	867	865	1,183	1,395
Operating income	142	-31.4	134	119	-7.4	-27.5	172	79.6	30.8	-53.4	327	581
Operating margin	22%	-5%	20%	18%	-1%	-3%	18%	9%	4%	-6%	28%	42%
Interest expense	42.2	43.2	42.7	42.4	61.8	69.4	73.2	75.2	72.6	77.4	105	99.8
Pre-tax income	-152	158	-36.6	81.7	-7.2	-207	8.5	204	-14.3	3.9	-501	664
Tax rate	n/a	12%	n/a	14%	n/a	n/a	31%	20%	n/a	-132%	n/a	26%
Net income	-52.9	55.5	-24.2	37.5	-9.9	-118	-2.1	153	-9.5	-8.7	-420	493
Net margin	-8%	8%	-4%	6%	-1%	-13%	-0%	17%	-1%	-1%	-35%	35%
Diluted EPS	-$0.67	$0.61	-$0.25	$0.33	-$0.07	n/a	-$0.01	$0.60	-$0.04	-$0.03	-$1.28	$1.30
Operating cash flow	189	323	184	287	368	384	337	499	473	371	409	707
Buybacks	0.0	n/a	0.0	0.0	7.3	0.5	5.3	28.5	0.0	-0.4	0.0	0.0
Dividends paid	9.1	11.0	12.6	13.4	19.6	19.5	23.5	30.6	30.6	30.6	39.3	39.6
Shares outstanding	n/a	n/a	n/a	n/a	n/a	n/a	255m	255m	255m	328m	330m	330m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* 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 diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. 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.

Source

10-Q for the period ended 30 June 2026, filed 3 August 2026, accession 0001866175-26-000114: the filing on EDGAR. All of Crescent Energy Co.'s filings: EDGAR company page.

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