Filing Flows › Crescent Energy (CRGY) › Q2 2025
Crescent Energy (CRGY) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 4, 2025
Crescent Energy (CRGY) reported revenue of $898M for the second quarter 2025 (Q2 2025), +37% from a year earlier and -5% from the quarter before. Operating margin was 8.9%, net earnings $153M (17.1% of revenue).
Crescent Energy, Q2 2025: revenue $898M (+38% year over year), operating margin 8.9%, net earnings $153M, operating cash flow $499M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $898M | -5% | +37% |
| Operating profit | $79.6M | -54% | -33% |
| Net earnings | $153M | — | +308% |
| Operating cash flow | $499M | +48% | +74% |
| Free cash flow | $222M | — | +64% |
What changed
Revenue was $898.0M in Q2 2025, up 37% year over year and down 5% from the previous quarter. Oil was the largest line at 67% of revenue. Natural gas added $107.7M year over year (up 210%), 44% of the total change.
Operating profit was $79.6M, a 8.9% margin (down 9.4 points year over year). Operating profit fell $39.7M even though revenue rose $244.7M versus a year earlier, so costs grew faster than sales. Total costs grew 53% against revenue growth of 37%. The fastest-growing cost line was General & admin (+164%). Net earnings were $153.2M, up 308% year over year. The effective tax rate was 20.2%. Non-operating items added $123.9M, 61% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $499.0M (up 74% year over year), 307% of net income including minority interests. Non-cash charges added back $297.1M of depreciation and amortization and $93.3M of share-based compensation. Working capital and other items used $53.9M. Capital expenditures of $276.9M left free cash flow of $222.1M.
Questions
What was Crescent Energy's revenue in the second quarter 2025?
Crescent Energy (CRGY) reported revenue of $898M for the second quarter 2025 (Q2 2025), +37% from a year earlier and -5% from the quarter before.
Was Crescent Energy profitable in the second quarter 2025?
Operating profit was $79.6M (8.9% of revenue) and net earnings $153M.
Source: Crescent Energy 10-Q on SEC EDGAR.