Filing Flows › BKV (BKV) › Q3 2026 › vs Q3 2025
BKV (BKV) Q3 2026 vs Q3 2025 (year over year)
BKV's revenue rose $106M (+37%) from $284M in Q3 2025 to $390M in Q3 2026. The biggest changes: Marketing revenues +$58.2M (+846%); Natural gas, NGL, and oil sales +$9.1M (+4%); Power +$2.4M (+3%). Operating margin 17.2% against 48.9% (-31.7 pts).
BKV, Q3 2026: revenue $390M (+37% year over year), operating margin 17.2%, net earnings $29.4M, operating cash flow $164M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 17.2% | 48.9% | -31.7 pts |
| Net margin | 7.5% | 29.4% | -21.8 pts |
| Free cash flow margin | 21.3% | 8.3% | +13.0 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Power revenues | $87.4M | $85.0M | $2.4M | +3% |
| Merchant energy sales and other | $80.5M | $102M | −$21.5M | -21% |
| NGLs | $65.9M | $39.8M | $26.2M | +66% |
| Oil | $3.7M | $1.7M | $2.0M | +116% |
| Natural gas, NGL, and oil sales | $238M | $228M | $9.1M | +4% |
| Power | $87.4M | $85.0M | $2.4M | +3% |
| Marketing revenues | $65.1M | $6.9M | $58.2M | +846% |
| Revenue | $390M | $284M | $106M | +37% |
| Operating profit | $67.2M | $139M | −$71.9M | -52% |
| Costs & expenses | $323M | $145M | $178M | +123% |
| Pre-tax earnings | $41.4M | $119M | −$77.4M | -65% |
| Other expense, net | $25.8M | $20.4M | $5.5M | +27% |
| General & admin | $44.3M | $31.4M | $12.9M | +41% |
| Other operating costs | $279M | $114M | $165M | +145% |
| Net earnings | $29.4M | $83.5M | −$54.1M | -65% |
| Minority interests | $9.0M | $11.4M | −$2.4M | -21% |
| Income tax | $3.0M | $23.9M | −$20.9M | -87% |
| Depreciation & amortization | $52.3M | $47.2M | $5.1M | +11% |
| Share-based compensation | $4.8M | $2.9M | $1.9M | +64% |
| Working capital & other | $77.9M | −$24.6M | $103M | — |
| Operating cash flow | $164M | $109M | $55.4M | +51% |
| Free cash flow (OCF − capex) | $83.0M | $23.6M | $59.4M | +252% |
| Capital expenditures | $81.5M | $85.5M | −$4.0M | -5% |
Questions
How much did BKV's revenue grow year over year in Q3 2026?
BKV's revenue rose $106M (+37%) from $284M in Q3 2025 to $390M in Q3 2026.
What drove BKV's revenue change in Q3 2026?
Marketing revenues +$58.2M (+846%); Natural gas, NGL, and oil sales +$9.1M (+4%); Power +$2.4M (+3%).