Filing Flows › Crescent Energy (CRGY) › Q1 2026
Crescent Energy (CRGY) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
Crescent Energy (CRGY) reported revenue of $1.2B for the first quarter 2026 (Q1 2026), +24% from a year earlier and +37% from the quarter before. Operating margin was 27.7%, net loss $419M (35.4% of revenue).
Crescent Energy, Q1 2026: revenue $1.2B (+24% year over year), operating margin 27.7%, net loss $419M, operating cash flow $409M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | +37% | +24% |
| Operating profit | $327M | — | +90% |
| Net earnings | −$419M | -4746% | -7191% |
| Operating cash flow | $409M | +10% | +21% |
| Free cash flow | $57.4M | -48% | — |
What changed
Revenue was $1.2B in Q1 2026, up 24% year over year and up 37% from the previous quarter. Oil was the largest line at 76% of revenue. Oil added $0.27B year over year (up 44%), 118% of the total change. Midstream and other declined 83%.
Operating profit was $0.33B, a 27.7% margin (up 9.6 points year over year). Of the extra revenue versus Q1 2025, 67% reached operating profit, above the 18% margin then. Total costs grew 10% against revenue growth of 24%. The fastest-growing cost line was General & admin (+11%). The quarter ended with a net loss of $0.42B, after a profit of $0.01B the previous quarter. Net interest and other expense of $0.83B was the main reason.
Operating cash flow was $0.41B (up 21% year over year). Non-cash charges added back $0.35B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.45B. Capital expenditures of $0.35B left free cash flow of $0.06B.
Questions
What was Crescent Energy's revenue in the first quarter 2026?
Crescent Energy (CRGY) reported revenue of $1.2B for the first quarter 2026 (Q1 2026), +24% from a year earlier and +37% from the quarter before.
Was Crescent Energy profitable in the first quarter 2026?
Operating profit was $327M (27.7% of revenue) and net loss $419M.
Source: Crescent Energy 10-Q on SEC EDGAR.