Filing Flows › Crescent Energy (CRGY) › Q2 2026 › vs Q1 2026
Crescent Energy (CRGY) Q2 2026 vs Q1 2026 (quarter over quarter)
Crescent Energy's revenue rose $212M (+18%) from $1.2B in Q1 2026 to $1.4B in Q2 2026. The biggest changes: Oil +$334M (+37%); Natural gas −$125M (-79%); Natural gas liquids +$4.3M (+3%). Operating margin 41.6% against 27.7% (+14.0 pts).
Crescent Energy, Q2 2026: revenue $1.4B (+55% year over year), operating margin 41.6%, net earnings $493M, operating cash flow $707M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 41.6% | 27.7% | +14.0 pts |
| Net margin | 35.3% | -35.5% | +70.8 pts |
| Free cash flow margin | 26.9% | 4.9% | +22.1 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Oil | $1.2B | $893M | $334M | +37% |
| Natural gas liquids | $129M | $125M | $4.3M | +3% |
| Natural gas | $33.8M | $158M | −$125M | -79% |
| Midstream and other | $5.0M | $6.0M | −$1.1M | -18% |
| Revenue | $1.4B | $1.2B | $212M | +18% |
| Other income, net | $82.6M | −$829M | $912M | — |
| Operating profit | $581M | $327M | $253M | +77% |
| Costs & expenses | $814M | $855M | −$41.4M | -5% |
| Pre-tax earnings | $664M | −$501M | $1.2B | — |
| General & admin | $61.5M | $62.8M | −$1.3M | -2% |
| Other operating costs | $752M | $793M | −$40.1M | -5% |
| Net earnings | $493M | −$420M | $913M | — |
| Minority interests | $939K | $671K | $268K | +40% |
| Income tax | $170M | −$82.3M | $252M | — |
| Depreciation & amortization | $358M | $354M | $3.9M | +1% |
| Share-based compensation | $21.3M | $23.4M | −$2.1M | -9% |
| Working capital & other | $165M | −$451M | $617M | — |
| Operating cash flow | $707M | $409M | $298M | +73% |
| Free cash flow (OCF − capex) | $376M | $57.4M | $318M | +555% |
| Capital expenditures | $331M | $352M | −$20.9M | -6% |
Questions
How much did Crescent Energy's revenue grow quarter over quarter in Q2 2026?
Crescent Energy's revenue rose $212M (+18%) from $1.2B in Q1 2026 to $1.4B in Q2 2026.
What drove Crescent Energy's revenue change in Q2 2026?
Oil +$334M (+37%); Natural gas −$125M (-79%); Natural gas liquids +$4.3M (+3%).