Granite Ridge Resources (GRNT) Q3 2025 Earnings
Reported Nov 6, 2025 at 6:19 PM ET · SEC Source
Q3 25 EPS
$0.09
MISS 34.55%
Est. $0.14
Q3 25 Revenue
$112.7M
MISS 6.80%
Est. $120.9M
vs S&P Since Q3 25
-23.7%
TRAILING MARKET
GRNT -11.7% vs S&P +12.0%
Market Reaction
Did GRNT Beat Earnings? Q3 2025 Results
Granite Ridge Resources delivered a mixed third quarter for 2025, falling short of Wall Street expectations on both the top and bottom lines as sharply lower oil prices undercut otherwise strong operational momentum. The non-Permian-focused producer … Read more Granite Ridge Resources delivered a mixed third quarter for 2025, falling short of Wall Street expectations on both the top and bottom lines as sharply lower oil prices undercut otherwise strong operational momentum. The non-Permian-focused producer reported adjusted EPS of $0.09, missing the $0.14 consensus estimate by 34.55%, while revenue of $112.67 million trailed forecasts by 6.80% despite climbing 19.8% year-over-year. The core tension of the quarter was a 27% surge in daily production to 31,925 Boe per day, driven by accelerated well activity, running headlong into average realized oil prices that collapsed to $61.62 per barrel from $73.44 a year ago. Lease operating expenses also pressured margins, jumping to $8.03 per Boe from $5.62, largely on higher saltwater disposal costs. A post-quarter refinancing, including $350 million in senior notes, extended the company's financial runway, and management reaffirmed full-year production guidance of 31,000 to 33,000 Boe per day, signaling confidence in sustaining growth through the commodity cycle.
Key Takeaways
- • 27% year-over-year production growth to 31,925 Boe per day
- • 9.3 net wells turned in-line during Q3 2025 versus 5.2 in Q3 2024
- • Strong well performance across multiple basins, particularly the Permian Basin
- • Natural gas prices nearly doubled year-over-year to $2.39/Mcf
- • Operated Partnership platform driving operational excellence and capital efficiency
- • 17 acquisitions in Permian and Utica Basins adding 13.6 net undeveloped locations
GRNT YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
GRNT Revenue by Segment
With YoY comparisons, source: SEC Filings
“Granite Ridge delivered another quarter of strong execution and disciplined growth, demonstrating the consistency of our model and the strength of our diversified portfolio. Our Operated Partnership platform continues to perform well, highlighted by Admiral Permian Resources and other key partners who are driving operational excellence and capital efficiency across our portfolio.”
— Tyler Farquharson, Q3 2025 Earnings Press Release
GRNT Earnings Trends
GRNT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
GRNT EPS Trend
Earnings per share: estimate vs actual
GRNT Revenue Trend
Quarterly revenue: estimate vs actual
GRNT Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.12 | $0.02 | -82.76% | $128.3M | -1.94% |
| Q4 25 MISS FY | $0.10 | $0.01 | -90.00% | $105.5M | -12.41% |
| FY Full Year | — | $0.43 | — | $450.3M | — |
| Q3 25 MISS | $0.14 | $0.09 | -34.55% | $112.7M | -6.80% |
| Q2 25 MISS | $0.13 | $0.11 | -15.38% | $109.2M | +1.01% |