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Talos Energy

Talos Energy (TALO) Q2 2026 Earnings

Reported Aug 4, 2026 at 5:18 PM ET · SEC Source

Q2 26 EPS

$0.57

BEAT +75.93%

Est. $0.32

Q2 26 Revenue

$664.8M

BEAT +14.92%

Est. $578.5M

vs S&P Since Q2 26

-4.2%

TRAILING MARKET

TALO -3.8% vs S&P +0.4%

Market Reaction

Did TALO Beat Earnings? Q2 2026 Results

Talos Energy posted a blowout second quarter for 2026, with adjusted earnings of $0.57 per diluted share clearing the $0.32 consensus estimate by 75.93% and revenue of $664.81 million beating expectations by 14.92% while surging 56.5% year over year.… Read more Talos Energy posted a blowout second quarter for 2026, with adjusted earnings of $0.57 per diluted share clearing the $0.32 consensus estimate by 75.93% and revenue of $664.81 million beating expectations by 14.92% while surging 56.5% year over year. The standout performance was driven by production of 93.7 MBoe/d, 73% oil, which cleared the high end of guidance on the strength of base asset optimization, high facility uptime, and continued outperformance from the new Cardona well. Adjusted EBITDA reached $402.18 million while adjusted free cash flow totaled $231.58 million, reflecting the operational leverage embedded in the company's Gulf of Mexico portfolio. With investors already watching closely for evidence that Talos's cost efficiency push was gaining traction, the quarter offered a tangible answer. The company raised its full-year 2026 production guidance midpoints to 66 MBo/d and 89 MBoe/d, and Monument first production, targeting 20-30 MBoe/d gross, remains on track for year-end 2026, adding further momentum to the growth narrative heading into the second half.

Key Takeaways

  • • Production optimization initiatives and strong base asset performance
  • • High facility uptime across deepwater operations
  • • Continued outperformance from new Cardona well
  • • Successful completion of Genovesa workover returning the well to production
  • • Optimal Performance Plan achieving more than 65% of 2026 target in first half

TALO Forward Guidance & Outlook

For Q3 2026, Talos expects production of 61-65 MBo/d and 81-85 MBoe/d. Full-year 2026 revised guidance calls for production of 64-68 MBo/d and 87-91 MBoe/d (up from original 62-66 MBo/d and 85-90 MBoe/d), excluding the Gulf of America bolt-on acquisition and reflecting the non-core shelf divestment. Full-year capital expenditures are guided at $500-$550 million, P&A and decommissioning at $100-$130 million, cash operating expenses and workovers at $560-$590 million, G&A at $130-$145 million, and interest expense at $155-$165 million. The company expects to update guidance following the close of the Gulf of America acquisition in Q3 2026. Monument first production is expected by year-end 2026 at 20-30 MBoe/d gross. Daenerys appraisal well results are also expected by year-end 2026.

24/7 Wall St

TALO YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

TALO Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q2 26

“The second quarter marked another meaningful step forward in the execution of our strategy and reinforces our confidence in the long-term value creation opportunities ahead. We advanced all three pillars of our strategic framework as we continue to build a long-lived, scaled portfolio by expanding our deepwater scale, enhancing our development inventory through greenfield opportunities, and adding large-scale exploration potential at low entry cost. At the same time, our teams continued delivering on the Optimal Performance Plan, achieving more than 65% of the 2026 target in the first half of the year and demonstrating our relentless focus on operational excellence, cost discipline and value creation.”

— Paul Goodfellow, Q2 2026 Earnings Press Release

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