Companies /Energy

Granite Ridge Resources Inc - Class A

NYSE: GRNT Oil & Gas E&p
$5.04
â–² $0.04 (+0.80%) today
Markets closed · 10:08pm ET

Q4 2025 Earnings

Reported Mar 5, 2026, 4:28pm ET · SEC source
$0.01
Miss −90.00%
EPS · est. $0.10
$105.5M
Miss −12.41%
Revenue · est. $120.4M
+12.8%
Beating market
GRNT vs S&P since report
4 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
−4%0+4%+8%Mar 5Mar 6report 4:28pm ETearnings−1.3%+0.2%
−4%0+4%+8%Mar 5Mar 6earnings−1.3%+0.2%
GRNT +0.2%S&P 500 −1.3%
−4%0+4%+8%Mar 5Mar 6report 4:28pm ETearnings−1.4%+0.2%
−4%0+4%+8%Mar 5Mar 6earnings−1.4%+0.2%
GRNT +0.2%NASDAQ −1.4%
0+5%+10%+15%Mar 4Mar 13report 4:28pm ETearnings−2.8%+8.8%
0+5%+10%+15%Mar 4Mar 13earnings−2.8%+8.8%
GRNT +8.8%S&P 500 −2.8%
0+5%+10%+15%Mar 4Mar 13report 4:28pm ETearnings−2.6%+8.8%
0+5%+10%+15%Mar 4Mar 13earnings−2.6%+8.8%
GRNT +8.8%NASDAQ −2.6%
−5.99%
Day of report
+5.98%
Next session
+3.19%
One week
+13.35%
30 days

S&P 500 over the same 30 days: +0.54%.

Did GRNT Beat Earnings? Q4 2025 Results

Granite Ridge Resources delivered a sharply disappointing fourth quarter, missing Wall Street expectations on both the top and bottom lines as falling commodity prices overwhelmed strong production growth. The Houston-based non-operator posted adjusted EPS of just $0.01 for Q4 2025, a 90.00% shortfall versus the $0.10 consensus estimate, while revenue of $105.48 million came in 12.41% below the $120.43 million analysts had expected, roughly flat with the year-ago period at a -0.8% decline. The central culprit was a steep drop in realized oil prices to $55.49 per barrel from $65.53 a year ago, compounded by a 29% rise in per-unit lease operating expenses and $44.65 million in asset impairment charges that drove a GAAP net loss of $25.06 million for the quarter. Shares fell more than 6% following the release, though insider buying provided a note of confidence from within. Looking ahead, management guided 2026 production of 34,000 to 36,000 Boe per day with capital expenditures trimmed to $320 to $360 million, signaling a deliberate pivot toward capital discipline over growth.

Key Takeaways
  • 27% increase in total production to 35,120 Boe/day in Q4 2025
  • 17% increase in oil production to 17,152 Bbls/day in Q4
  • Operated Partnership program driving increased Permian Basin exposure
  • 67 gross (10.50 net) wells placed online during Q4
  • Lower realized oil prices ($55.49/Bbl vs $65.53/Bbl year-ago quarter)
  • 29% increase in per-unit lease operating expenses

“Granite Ridge continued its evolution in 2025 from a traditional non-operated production company to a capital allocator focused on controlled, short-cycle development through Operated Partnerships. This strategic shift has resulted in greater control over development timing, and increased deal flow and exposure to high-quality resource in the Permian Basin.”

Granite Ridge Resources CEO, on the earnings call

Forward Guidance & Outlook

Granite Ridge's 2026 guidance calls for production of 34,000-36,000 Boe/day (approximately 9% growth at the midpoint versus 2025), with oil comprising 50%-52% of total production. Total capital expenditures are expected at $320-$360 million, consisting of $300-$330 million in development capital and $20-$30 million in acquisitions. Lease operating expenses are guided at $6.75-$7.75 per Boe, production and ad valorem taxes at 6%-7% of revenue, and cash G&A at $25-$27 million. Management noted that production growth is moderating and development capital expenditures are aligning more closely with expected cash flow.

GRNT YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$30.0M$60.0M$90.0M$106.3M$105.5MRevenue
$0$30.0M$60.0M$90.0MRevenue

GRNT Revenue by Segment

Oil Sales$87.6M
Natural Gas Sales$17.9M

Figures from SEC filings and company reports. Not investment advice.