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Infinity Natural Resources (INR) Q3 FY2026 earnings: revenue $198 million, up 147.8% on the year

Infinity Natural Resources, Inc. (INR) reported revenue of $198 million for Q3 FY2026, the quarter ended 30 September 2026, up 147.8% on the same quarter a year earlier. Net income was -$122,000, and diluted earnings per share $-0.37. The figures are the company's own, from the 10-Q it filed with the SEC on 9 November 2026.

Revenue
$198 million
+147.8% on the year · +15.5% on the quarter
Q4 FY2024Q3 FY2026
Operating margin
40.1%
30.0% a year earlier
Q4 FY2024Q3 FY2026
Net income
-$122,000
Q4 FY2024Q3 FY2026
Diluted EPS
-$0.37
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

  • Production nearly doubled year over year: Net daily production was 431.7 MMcfe/d, up 100% from the third quarter 2025. Natural gas rose 104% to 282.6 MMcf/d and oil rose 79% to 14.0 Mbbls/d.
  • Adjusted EBITDAX reached record level: Adjusted EBITDAX was $137.7 million, an Adjusted EBITDAX Margin of $3.47 per Mcfe, against $60.0 million in the third quarter 2025. Both are non-GAAP measures.
  • Quarter net loss included hedge losses: Net loss was $(0.4) million, or $(0.37) per diluted share, including $63.2 million of mark-to-market hedge losses.
Read the earnings call summary

Income statement (profit and loss)

$ millionQ3 FY2026Q2 FY2026Q3 FY2025On the quarterOn the yearLast 8 quarters
Revenue19817179.7+15.5%+147.8%
Operating income79.270.523.9+12.4%+231.4%
Operating margin40.1%41.2%30.0%
Interest expense13.514.7n/a-8.5%
Pre-tax income-0.011336.6
Income tax0.45.5-3.4-93.1%
Effective tax raten/a4.8%-9.2%
Net income-0.131.810.4
Net margin-0.1%18.6%13.0%
Diluted EPS-$0.37$0.88$0.65
$ 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.

Cash flow

$ millionQ3 FY2026Q2 FY2026Q3 FY2025On the quarterOn the yearLast 8 quarters
Operating cash flow13713842.1-0.5%+226.1%
Capital expenditure11.213.03.9-13.4%+187.6%
Free cash flow12612538.2+0.9%+230.1%
Free cash flow margin63.8%73.0%47.9%
Cash from investing-123-179-84.8
Cash from financing-13.5-6.341.0
Depreciation and amortisation54.744.427.6+23.1%+98.2%
Share-based compensation3.33.22.3+2.7%+45.8%
Buybacks0.0n/a0.0
Diluted shares, weighted19m36m16m-46.3%+22.3%
Shares outstanding at period end63m63m61m+0.0%+4.2%

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

Balance sheet

$ millionQ3 FY2026Q2 FY2026Q3 FY2025On the quarterOn the yearLast 8 quarters
Shareholders' equity388399289-2.7%+34.5%
Redeemable equity706707608-0.0%+16.1%
Debt53953875.4+0.1%+614.9%
Operating lease liabilities1.61.31.0+28.9%+62.2%
Other liabilities620542139+14.3%+345.1%
Total liabilities and equity2,2542,1871,113+3.1%+102.6%
Cash and equivalents26.225.94.6+1.1%+472.5%
Receivables89.669.737.0+28.5%+142.0%
Other assets2,1392,0921,071+2.3%+99.7%
Total assets2,2542,1871,113+3.1%+102.6%

Questions

What was Infinity Natural Resources' revenue in Q3 FY2026?

Infinity Natural Resources (INR) reported revenue of $198 million for Q3 FY2026, the quarter ended 30 September 2026, up 147.8% on the same quarter a year earlier.

How much did Infinity Natural Resources earn in Q3 FY2026?

Net loss for Q3 FY2026 was $122,000, and the diluted loss per share $0.37.

When did Infinity Natural Resources report Q3 FY2026 results?

Infinity Natural Resources filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 9 November 2026.

Quarterly results, the last 11 quarters

Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue50.270.469.269.185.274.579.7117155171198
Operating income14.428.123.028.3-88.021.723.954.365.370.579.2
Operating margin29%40%33%41%-103%29%30%46%42%41%40%
Interest expensen/an/an/an/a3.1n/an/an/a5.814.713.5
Pre-tax income-14.124.144.8-5.5-12871.436.679.4-6.7113-0.0
Tax raten/a0%0%n/an/a-1%-9%-1%n/a5%n/a
Net income-14.124.144.8-5.5-34.618.010.420.0-1.931.8-0.1
Net margin-28%34%65%-8%-41%24%13%17%-1%19%-0%
Diluted EPSn/a$0.00$0.00n/a-$2.27$1.18$0.65$1.33-$0.28$0.88-$0.37
Operating cash flow30.266.650.830.174.270.442.175.158.4138137
Capital expenditure1.91.61.71.42.83.53.92.40.813.011.2
Free cash flow28.365.049.128.771.566.938.272.757.6125126
Buybacksn/an/an/an/an/an/a0.0n/an/an/a0.0
Shares outstandingn/an/an/an/a61m61m61m63m64m63m63m
Filing10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
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. 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 9 November 2026: the filing.