Filing Flows › Crescent Energy (CRGY) › Q1 2025
Crescent Energy (CRGY) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 5, 2025
Crescent Energy (CRGY) reported revenue of $950M for the first quarter 2025 (Q1 2025), +45% from a year earlier and +9% from the quarter before. Operating margin was 18.1%, net earnings $5.9M (0.6% of revenue).
Crescent Energy, Q1 2025: revenue $950M (+44% year over year), operating margin 18.1%, net earnings $5.9M, operating cash flow $337M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $950M | +9% | +45% |
| Operating profit | $172M | — | +29% |
| Net earnings | $5.9M | — | — |
| Operating cash flow | $337M | -12% | +83% |
What changed
Revenue was $950.2M in Q1 2025, up 45% year over year and up 9% from the previous quarter. Oil was the largest line at 65% of revenue. Oil added $145.8M year over year (up 31%), 50% of the total change. Midstream and other declined 3%.
Operating profit was $172.2M, a 18.1% margin (down 2.3 points year over year). Of the extra revenue versus a year earlier, 13% reached operating profit, below the 20% margin then. Total costs grew 49% against revenue growth of 45%. The fastest-growing cost line was Other operating costs (+50%). Net earnings were −$2.1M. The effective tax rate was 30.7%.
Operating cash flow was $337.1M (up 83% year over year), 5703% of net income including minority interests. Non-cash charges added back $282.6M of depreciation and amortization and $26.2M of share-based compensation. Working capital and other items added $22.4M. Capital expenditures of $864.7M exceeded it, leaving free cash flow of −$527.6M.
Questions
What was Crescent Energy's revenue in the first quarter 2025?
Crescent Energy (CRGY) reported revenue of $950M for the first quarter 2025 (Q1 2025), +45% from a year earlier and +9% from the quarter before.
Was Crescent Energy profitable in the first quarter 2025?
Operating profit was $172M (18.1% of revenue) and net earnings $5.9M.
Source: Crescent Energy 10-Q on SEC EDGAR.