Filing Flows › BKV (BKV) › Q1 2026
BKV (BKV) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
BKV (BKV) reported revenue of $377M for the first quarter 2026 (Q1 2026), +38% from a year earlier and -25% from the quarter before. Operating margin was 22.8%, net earnings $44.1M (11.7% of revenue).
BKV, Q1 2026: revenue $377M (+38% year over year), operating margin 22.8%, net earnings $44.1M, operating cash flow $72.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $377M | -25% | +38% |
| Operating profit | $86.0M | -54% | — |
| Net earnings | $44.1M | -42% | — |
| Operating cash flow | $72.0M | -33% | +338% |
What changed
Revenue was $376.5M in Q1 2026, up 38% year over year and down 25% from the previous quarter. Natural gas was the largest line at 64% of revenue. Natural gas added $72.2M year over year (up 43%), 69% of the total change. Oil declined 20%.
Operating profit was $86.0M, a 22.8% margin (up 59.6 points year over year). Total costs fell 22% while revenue rose 38%. The fastest-growing cost line was General & admin (+45%). Net earnings were $44.1M. The effective tax rate was 18.1%.
Operating cash flow was $72.0M (up 338% year over year), 139% of net income including minority interests. Non-cash charges added back $54.2M of depreciation and amortization and $3.9M of share-based compensation. Working capital and other items used $37.9M. Capital expenditures of $106.5M exceeded it, leaving free cash flow of −$34.5M.
Questions
What was BKV's revenue in the first quarter 2026?
BKV (BKV) reported revenue of $377M for the first quarter 2026 (Q1 2026), +38% from a year earlier and -25% from the quarter before.
Was BKV profitable in the first quarter 2026?
Operating profit was $86.0M (22.8% of revenue) and net earnings $44.1M.
Source: BKV 10-Q on SEC EDGAR.