Filing Flows › Energy › Battalion Oil (BATL)
Battalion Oil (BATL) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · Battalion Oil (BATL) Q2 2026 earnings results →
Q2 2026 Revenue up 12% year over year to $48.1M · 32¢ of every $1 of revenue kept as net profit · operating margin 14.1%
Battalion Oil made $48.1M in Q2 2026 (+12% Y/Y). Operating margin 14.1%, net earnings $15.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $48.1M in Q2 2026, up 12% year over year and up 23% from the previous quarter.
Operating profit was $6.8M, a 14.1% margin (up 14.4 points year over year). Total costs fell 4% while revenue rose 12%. The fastest-growing cost line was General & admin (+58%). Net earnings were $15.5M, up 223% year over year. The effective tax rate was 0.0%. Non-operating items added $8.7M, 56% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $8.8M (down 14% year over year), 57% of net earnings. Working capital and other items used $6.7M. Capital expenditures of $4.2M left free cash flow of $4.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 12, 2026 | $48.1M | +12% | 14.1% | $15.5M | $8.8M |
| Q1 2026 | 10-Q | May 13, 2026 | $39.2M | -18% | -5.4% | −$56.5M | $2.1M |
| Q4 2025 | 10-K | Mar 23, 2026 | $32.3M | -35% | -33.2% | $1.8M | −$11.8M |
| Q3 2025 | 10-Q | Nov 13, 2025 | $43.5M | -4% | 1.9% | −$735K | $28.0M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $42.8M | -13% | -0.4% | $4.8M | $10.2M |
| Q1 2025 | 10-Q | May 14, 2025 | $47.5M | -5% | 7.1% | $6.0M | $12.7M |
| Q4 2024 | 10-K | Mar 31, 2025 | $49.7M | +5% | -36.1% | −$22.2M | $6.7M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- SUN — 86% of its revenue · Stated in 10-K (sentence) · source
- Sunoco and Western Refining Inc — 83% of its revenue · Stated in 10-K (XBRL) · source
About Battalion Oil
Unless the context otherwise requires, all references in this report to “Battalion,”, “the Company”, “our,” “us,” and “we” refer to Battalion Oil Corporation and its subsidiaries, as a common entity. Battalion is the successor reporting company to Halcón Resources Corporation (“Halcón”). We are an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich oil and natural gas assets in the U.S. Our properties and drilling activities are currently focused in the Delaware Basin, where we have an extensive drilling inventory that we believe offers attractive long-term economics.
In its own words, from its 10-K, filed Mar 23, 2026.
Battalion Oil against its Crude Petroleum & Natural Gas peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +12% against the peers' median +46%. Operating margin: 14.1% against the peers' median 19.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BATL Battalion Oil | Q2 2026 | $48.1M | +12% | 14.1% |
| EOG EOG Resources | Q3 2026 | $8.5B | +46% | 41.9% |
| OXY Occidental Petroleum | Q2 2026 | $8.1B | +53% | 48.5% |
| DVN Devon Energy | Q3 2026 | $6.9B | +58% | 18.3% |
| FANG Diamondback Energy | Q3 2026 | $5.4B | +38% | 46.0% |
| EXE Expand Energy | Q3 2026 | $3.3B | +11% | 19.5% |
| PARR PAR Pacific Holdings | Q3 2026 | $3.1B | +52% | 15.5% |
| OVV Ovintiv | Q3 2026 | $2.6B | +26% | 33.7% |
| SM SM Energy | Q3 2026 | $2.2B | +167% | 10.9% |
Source: Battalion Oil 10-Q on SEC EDGAR · CIK 1282648 · Crude Petroleum & Natural Gas
13F: who owns BATL and who is buying
More on BATL
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results