Granite Ridge Resources (GRNT) Q3 2025 Earnings
How Did GRNT Stock React to Q3 2025 Earnings?
S&P 500 over the same 30 days: +2.47%.
Did GRNT Beat Earnings? Q3 2025 Results
No. Granite Ridge Resources reported Q3 2025 earnings of $0.09 a share on Nov 6, 2025, missing the $0.14 consensus estimate by 34.5%. Revenue was $112.7M against a $120.9M estimate.
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.
- 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
“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.”
Granite Ridge Resources CEO, on the earnings call
What Was Granite Ridge Resources's Outlook in Q3 2025?
Full-year 2025 guidance: annual production of 31,000–33,000 Boe per day (51%–53% oil); acquisitions of $120 million; development capital expenditures of $280–$300 million; total capital expenditures of $400–$420 million; lease operating expenses of $6.25–$7.25 per Boe; production and ad valorem taxes of 6%–7% of total sales; cash G&A of $25–$27 million. Post quarter-end, the company issued $350 million of 8.875% senior unsecured notes maturing November 2029, using proceeds to repay revolving credit facility borrowings and extend financial flexibility into 2026.
GRNT YoY Financials
| Metric | Q3 2025 | Q3 2024 | Year over year |
|---|---|---|---|
| Revenue | $112.7M | $94.1M | +19.8% |
| Operating Income | $19.6M | $24.7M | −20.6% |
| Net Income | $14.5M | $9.1M | +60.4% |
GRNT Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.