Filing Flows › Crescent Energy (CRGY) › Q2 2026 › vs Q2 2025
Crescent Energy (CRGY) Q2 2026 vs Q2 2025 (year over year)
Crescent Energy's revenue rose $497M (+55%) from $898M in Q2 2025 to $1.4B in Q2 2026. The biggest changes: Oil +$624M (+104%); Natural gas −$125M (-79%); Midstream and other −$33.4M (-87%). Operating margin 41.6% against 8.9% (+32.8 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 41.6% | 8.9% | +32.8 pts |
| Net margin | 35.3% | 17.1% | +18.3 pts |
| Free cash flow margin | 26.9% | 24.7% | +2.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Oil | $1.2B | $602M | $624M | +104% |
| Natural gas liquids | $129M | $98.1M | $31.2M | +32% |
| Natural gas | $33.8M | $159M | −$125M | -79% |
| Midstream and other | $5.0M | $38.4M | −$33.4M | -87% |
| Revenue | $1.4B | $898M | $497M | +55% |
| Other income, net | $82.6M | $124M | −$41.3M | -33% |
| Operating profit | $581M | $79.6M | $501M | +630% |
| Costs & expenses | $814M | $818M | −$4.4M | -0.5% |
| Pre-tax earnings | $664M | $204M | $460M | +226% |
| General & admin | $61.5M | $125M | −$63.1M | -51% |
| Other operating costs | $752M | $694M | $58.7M | +8% |
| Net earnings | $493M | $153M | $340M | +222% |
| Minority interests | $939K | $9.3M | −$8.3M | -90% |
| Income tax | $170M | $41.1M | $129M | +314% |
| Depreciation & amortization | $358M | $297M | $60.9M | +21% |
| Share-based compensation | $21.3M | $93.3M | −$72.0M | -77% |
| Working capital & other | $165M | $44.6M | $121M | +271% |
| Operating cash flow | $707M | $499M | $208M | +42% |
| Free cash flow (OCF − capex) | $376M | $222M | $154M | +69% |
| Capital expenditures | $331M | $277M | $54.1M | +20% |
Questions
How much did Crescent Energy's revenue grow year over year in Q2 2026?
Crescent Energy's revenue rose $497M (+55%) from $898M in Q2 2025 to $1.4B in Q2 2026.
What drove Crescent Energy's revenue change in Q2 2026?
Oil +$624M (+104%); Natural gas −$125M (-79%); Midstream and other −$33.4M (-87%).