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Chord Energy

Chord Energy (CHRD) Q1 2026 Earnings

Reported May 5, 2026 at 4:39 PM ET · SEC Source

Q1 26 EPS

$4.56

BEAT +30.78%

Est. $3.49

Q1 26 Revenue

$1.67B

BEAT +41.82%

Est. $1.17B

Did CHRD Beat Earnings? Q1 2026 Results

Chord Energy delivered a strong first quarter in 2026, with adjusted earnings of $4.56 per diluted share on revenue of $1.67 billion, as oil production volumes of 158.0 MBopd cleared the top of the company's guidance range of 152.5 to 155.5 MBopd. Th… Read more Chord Energy delivered a strong first quarter in 2026, with adjusted earnings of $4.56 per diluted share on revenue of $1.67 billion, as oil production volumes of 158.0 MBopd cleared the top of the company's guidance range of 152.5 to 155.5 MBopd. The volume beat was fueled in part by production enhancement initiatives including AI-optimized artificial lift and expanded workover activity, which are already reshaping the company's operational profile heading into the rest of the year. GAAP net income fell to $108.61 million from $219.84 million a year ago, weighed down by a $241.47 million net loss on derivative instruments, though adjusted net income rose to $258.92 million, reflecting the underlying strength of the business. Capital expenditures of $344.90 million landed at the midpoint of guidance, underscoring disciplined spending. Looking ahead, Chord raised its full-year oil volume guidance by 2 MBopd to a midpoint of 161 MBopd while holding capital expenditure guidance steady at roughly $1.40 billion, and expects approximately $3.10 billion in Adjusted EBITDA for full-year 2026.

Key Takeaways

  • • Oil volumes of 158.0 MBopd exceeded high-end of 1Q26 guidance range of 152.5–155.5 MBopd
  • • Capital expenditures in line with midpoint of guidance at $344.9MM
  • • LOE of $9.87/Boe in line with midpoint of guidance
  • • Favorable gas realizations reflecting seasonally strong regional benchmark prices
  • • Strong D&C cycle times and multi-well execution efficiencies
  • • Dual-fuel frac fleet operations reducing diesel price exposure

CHRD Forward Guidance & Outlook

Chord updated its full-year 2026 guidance, raising oil volume guidance by 2 MBopd to 161 MBopd at midpoint while keeping full-year CapEx unchanged at ~$1.4B. Q2 2026 oil volumes are guided to 162.5–165.5 MBopd with CapEx of $410–$440MM. Q3 volumes expected to be similar to Q2 before declining in Q4, with CapEx declining in Q3 and further in Q4. The company expects approximately $3.1B of Adjusted EBITDA and $1.4B of Adjusted Free Cash Flow for FY26 (assuming $80/Bbl WTI and $3.25/MMBtu Henry Hub for Q2–Q4). Oil realization outlook improved to reflect current market premiums to WTI. FY26 LOE increased $0.15/BOE to $9.95/BOE reflecting production enhancement initiatives. Approximately 40% of 2026 TILs and 60% of spuds expected to be 4-mile laterals.

24/7 Wall St

CHRD YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

CHRD Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“Chord delivered strong first quarter execution, demonstrated efficient operations, and generated free cash flow above expectations. Oil volumes exceeded the high-end of guidance with capital and operating expenses in line. This strong operational performance supported robust free cash flow, enabling high return of capital to shareholders. The Chord team also achieved a key operational milestone, with the successful delivery of our first four-mile pad during the quarter. Additionally, D&C cycle times continue to show positive trends.”

— Danny Brown, Q1 2026 Earnings Press Release

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