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Crescent Energy

Crescent Energy (CRGY) Q2 2026 Earnings

Reported Aug 3, 2026 at 4:21 PM ET · SEC Source

Q2 26 EPS

$0.69

BEAT +16.48%

Est. $0.59

Q2 26 Revenue

$1.39B

BEAT +10.21%

Est. $1.27B

Did CRGY Beat Earnings? Q2 2026 Results

Crescent Energy delivered a standout second quarter for 2026, beating Wall Street expectations on both the top and bottom lines and extending its consensus EPS beat streak to four consecutive quarters. The company posted adjusted earnings of $0.69 pe… Read more Crescent Energy delivered a standout second quarter for 2026, beating Wall Street expectations on both the top and bottom lines and extending its consensus EPS beat streak to four consecutive quarters. The company posted adjusted earnings of $0.69 per diluted share, well above the $0.59 consensus estimate, a 16.48% beat, while revenue of $1.39 billion topped forecasts by 10.21% and surged 55.3% from the year-ago period. The primary engine behind the quarter was a sharp improvement in oil price realizations, which reached $96.61 per barrel before hedges compared to $61.47 a year earlier, combined with production growth to 335 MBoe/d from 263 MBoe/d, largely reflecting contributions from the Permian acquisition of Vital Energy. Synergies from that deal proved more substantial than initially anticipated, with the company raising its Permian synergy target to $250 to $300 million, roughly three times the original estimate. Looking ahead, Crescent tightened its full-year production guidance upward to 327 to 335 MBoe/d while cutting operating expense guidance to $11.00 to $12.00 per Boe, signaling confidence in continued free cash flow generation through year-end. Analysts covering the stock have maintained bullish ratings, with multiple Buy recommendations in place ahead of the print.

Key Takeaways

  • • Oil production growth to 140 MBo/d from 108 MBo/d year-over-year
  • • Higher realized oil prices at $96.61/Bbl versus $61.47/Bbl year-over-year
  • • Operating expense reduction to $13.38/Boe from $16.31/Boe year-over-year
  • • Accelerated Permian synergy capture with approximately $190 million captured to date
  • • Improved capital efficiency and lower development costs across Eagle Ford, Permian, and Uinta
  • • Consistent execution across the portfolio driving higher production and lower costs

CRGY Forward Guidance & Outlook

Crescent enhanced its 2026 guidance, increasing total production to 327–335 MBoe/d (from 320–335), maintaining oil mix at 40%–42%, and reducing adjusted operating expense guidance to $11.00–$12.00/Boe (from $11.50–$12.50) and production tax guidance to 5.0%–6.0% of commodity revenue (from 6.0%–7.0%). Development capital remains unchanged at $1,325–$1,425 million. The combination of higher expected production and lower operating costs is expected to support incremental free cash flow generation in 2026. The Permian synergy target was increased to approximately $250–$300 million, roughly three times the original target.

24/7 Wall St

CRGY YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

CRGY Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q2 26

“Across the portfolio, consistent execution is translating into higher production, structurally lower costs and stronger free cash flow. That operating momentum supports an enhanced outlook, both in 2026 and beyond, and gives us a greater opportunity to create value through free cash flow and disciplined capital allocation.”

— David Rockecharlie, Q2 2026 Earnings Press Release

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