Companies /Energy

HighPeak Energy Inc

NASDAQ: HPK Oil & Gas E&p
$8.47
▼ $0.11 (−1.28%) today
Markets closed · 3:04am ET

Q2 2025 Earnings

Reported Aug 11, 2025, 4:02pm ET · SEC source
$0.10
Beat +0.00%
EPS · est. $0.00
$200.4M
Miss −7.80%
Revenue · est. $217.4M
−4.7%
Trailing market
HPK vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−10%−5%0+5%Aug 11Aug 12report 4:02pm ETearnings+1.1%−8.1%
−10%−5%0+5%Aug 11Aug 12earnings+1.1%−8.1%
HPK −8.1%S&P 500 +1.1%
−10%−5%0+5%Aug 11Aug 12report 4:02pm ETearnings+1.3%−8.1%
−10%−5%0+5%Aug 11Aug 12earnings+1.3%−8.1%
HPK −8.1%NASDAQ +1.3%
−14%−7%0+7%Aug 11Aug 19report 4:02pm ETearnings+0.7%−11.0%
−14%−7%0+7%Aug 11Aug 19earnings+0.7%−11.0%
HPK −11.0%S&P 500 +0.7%
−14%−7%0+7%Aug 11Aug 19report 4:02pm ETearnings−0.6%−11.0%
−14%−7%0+7%Aug 11Aug 19earnings−0.6%−11.0%
HPK −11.0%NASDAQ −0.6%
−13.35%
Day of report
+1.78%
Next session
−0.62%
One week
−2.40%
30 days

S&P 500 over the same 30 days: +2.29%.

Did HPK Beat Earnings? Q2 2025 Results

HighPeak Energy delivered a mixed second quarter, posting adjusted earnings of $0.10 per diluted share against a consensus estimate near zero, but falling short on the top line as revenue of $200.40 million trailed the $217.35 million consensus by 7.80% and slid 27.2% from $275.27 million a year earlier. The central culprit was commodity price compression: the average realized price per Boe collapsed to $45.27 from $62.33 in Q2 2024, overwhelming the stability in sales volumes, which held essentially flat at 48.6 MBoe/d year-over-year. That price headwind pulled EBITDAX down to $156.02 million from $215.83 million and pushed free cash flow into negative territory. In response, management cut to one drilling rig in May and trimmed capital expenditures by more than 30% sequentially to $125.40 million. A freshly amended term loan, upsized to $1.20 billion with maturities extended to September 2028 and amortization deferred until late 2026, provides critical financial runway as the company operates a maintenance drilling program and navigates an ongoing strategic review.

Key Takeaways
  • Stable production volumes at 48.6 MBoe/d despite dropping to one drilling rig in May 2025
  • Lower realized crude oil prices ($63.74/Bbl vs. $81.39/Bbl in Q2 2024) drove revenue decline
  • Lease operating expenses decreased 1% quarter-over-quarter to $6.55 per Boe excluding workovers
  • Capital expenditures decreased over 30% from Q1 2025 to $125.4 million
  • Noncash derivative gain of $19.0 million supported GAAP net income
  • Production mix of approximately 70% crude oil and 85% liquids

“We are deeply grateful for the unwavering support of our investors, whose confidence in our vision has enabled us to execute the strategic initiative of amending and extending our current Term Loan and RCF. This amendment and extension, coupled with our proactive hedging strategy, positions HighPeak to capitalize on future opportunities while maintaining a strong and adaptable financial foundation.”

HighPeak Energy CEO, on the earnings call

Forward Guidance & Outlook

HighPeak indicated that capital expenditures were heavily front-loaded in 2025 and will taper going forward as the company operates a maintenance drilling program with one rig. The amended and extended Term Loan (upsized to $1.2 billion, maturity extended to September 2028) and deferred mandatory amortization payments provide additional liquidity and financial flexibility. The company has hedged a significant portion of crude oil and natural gas production through March 2027 to minimize downside commodity price risk. A strategic review is ongoing and may or may not result in a transaction.

HPK YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$80.0M$160.0M$240.0M$275.3M$200.4MRevenue$87.3M$43.4MOperating Income$29.7M$26.2MNet Income
$0$80.0M$160.0M$240.0MRevenueOperating IncomeNet Income

HPK Revenue by Segment

Crude Oil Sales$196.7M
NGL and Natural Gas Sales$3.7M

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