Filing Flows › BKV (BKV) › Q2 2026 › vs Q2 2025
BKV (BKV) Q2 2026 vs Q2 2025 (year over year)
BKV's revenue rose $53.8M (+20%) from $269M in Q2 2025 to $322M in Q2 2026. The biggest changes: Natural gas, NGL, and oil sales +$22.2M (+11%); Marketing revenues +$19.2M (+275%); Merchant energy sales and other +$15.1M (+27%). Operating margin 37.7% against 60.1% (-22.3 pts).
BKV, Q2 2026: revenue $322M (+20% year over year), operating margin 37.7%, net earnings $75.8M, operating cash flow $110M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 37.7% | 60.1% | -22.3 pts |
| Net margin | 23.5% | 40.1% | -16.6 pts |
| Free cash flow margin | 7.1% | 8.5% | -1.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Natural gas | $156M | $156M | $539K | +0.3% |
| NGLs | $61.0M | $41.6M | $19.3M | +46% |
| Oil | $4.9M | $2.5M | $2.3M | +92% |
| Natural gas, NGL, and oil sales | $222M | $200M | $22.2M | +11% |
| Merchant energy sales and other | $70.8M | $55.7M | $15.1M | +27% |
| Marketing revenues | $26.2M | $7.0M | $19.2M | +275% |
| Section 45Q tax credits | $3.0M | $2.6M | $474K | +18% |
| Solar revenue | $111K | $107K | $4K | +4% |
| Revenue | $322M | $269M | $53.8M | +20% |
| Operating profit | $122M | $161M | −$39.7M | -25% |
| Costs & expenses | $201M | $107M | $93.5M | +87% |
| Pre-tax earnings | $97.5M | $142M | −$44.2M | -31% |
| Other expense, net | $24.2M | $19.6M | $4.5M | +23% |
| General & admin | $42.1M | $30.5M | $11.6M | +38% |
| Other operating costs | $159M | $76.8M | $81.9M | +107% |
| Net earnings | $75.8M | $108M | −$32.0M | -30% |
| Minority interests | $1.5M | $4.7M | −$3.2M | -68% |
| Income tax | $20.1M | $29.2M | −$9.1M | -31% |
| Depreciation & amortization | $54.1M | $47.7M | $6.4M | +13% |
| Share-based compensation | $6.4M | $4.1M | $2.3M | +57% |
| Working capital & other | $26.6M | $70.2M | −$43.7M | -62% |
| Operating cash flow | $110M | $89.3M | $20.4M | +23% |
| Free cash flow (OCF − capex) | $22.9M | $22.8M | $99K | +0.4% |
| Capital expenditures | $86.8M | $66.5M | $20.3M | +31% |
Questions
How much did BKV's revenue grow year over year in Q2 2026?
BKV's revenue rose $53.8M (+20%) from $269M in Q2 2025 to $322M in Q2 2026.
What drove BKV's revenue change in Q2 2026?
Natural gas, NGL, and oil sales +$22.2M (+11%); Marketing revenues +$19.2M (+275%); Merchant energy sales and other +$15.1M (+27%).