Filing Flows › BKV (BKV) › Q3 2026
BKV (BKV) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
BKV (BKV) reported revenue of $390M for the third quarter 2026 (Q3 2026), +37% from a year earlier and +21% from the quarter before. Operating margin was 17.2%, net earnings $29.4M (7.5% of revenue).
BKV, Q3 2026: revenue $390M (+37% year over year), operating margin 17.2%, net earnings $29.4M, operating cash flow $164M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $390M | +21% | +37% |
| Operating profit | $67.2M | -45% | -52% |
| Net earnings | $29.4M | -61% | -65% |
| Operating cash flow | $164M | +50% | +51% |
| Free cash flow | $83.0M | +262% | +252% |
What changed
Revenue was $390.3M in Q3 2026, up 37% year over year and up 21% from the previous quarter. Power revenues was the largest line at 22% of revenue. Marketing revenues added $58.2M year over year (up 846%), 55% of the total change. Merchant energy sales and other declined 21%.
Operating profit was $67.2M, a 17.2% margin (down 31.7 points year over year). Operating profit fell $71.9M even though revenue rose $106.0M versus Q3 2025, so costs grew faster than sales. Total costs grew 123% against revenue growth of 37%. The fastest-growing cost line was Other operating costs (+145%). Net earnings were $29.4M, down 65% year over year. The effective tax rate was 7.3%.
Operating cash flow was $164.5M (up 51% year over year), 428% of net income including minority interests. Non-cash charges added back $52.3M of depreciation and amortization and $4.8M of share-based compensation. Working capital and other items added $69.0M. Capital expenditures of $81.5M left free cash flow of $83.0M.
Questions
What was BKV's revenue in the third quarter 2026?
BKV (BKV) reported revenue of $390M for the third quarter 2026 (Q3 2026), +37% from a year earlier and +21% from the quarter before.
Was BKV profitable in the third quarter 2026?
Operating profit was $67.2M (17.2% of revenue) and net earnings $29.4M.
Source: BKV 10-Q on SEC EDGAR.