Filing Flows › Crescent Energy (CRGY) › Q3 2025
Crescent Energy (CRGY) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 3, 2025
Crescent Energy (CRGY) reported revenue of $867M for the third quarter 2025 (Q3 2025), +16% from a year earlier and -3% from the quarter before. Operating margin was 3.6%, net loss $10.3M (1.2% of revenue).
Crescent Energy, Q3 2025: revenue $867M (+16% year over year), operating margin 3.6%, net loss $10.3M, operating cash flow $473M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $867M | -3% | +16% |
| Operating profit | $30.8M | -61% | — |
| Net earnings | −$10.3M | -107% | — |
| Operating cash flow | $473M | -5% | +29% |
| Free cash flow | $258M | +16% | — |
What changed
Revenue was $866.6M in Q3 2025, up 16% year over year and down 3% from the previous quarter. Oil was the largest line at 69% of revenue. Natural gas added $65.7M year over year (up 83%), 54% of the total change.
Operating profit was $30.8M, a 3.6% margin (up 4.6 points year over year). Total costs grew 11% against revenue growth of 16%. The fastest-growing cost line was Other operating costs (+28%). The quarter ended with a net loss of $10.3M, after a profit of $162.5M the previous quarter. Net interest and other expense of $45.1M was the main reason.
Operating cash flow was $473.1M (up 29% year over year). Non-cash charges added back $298.4M of depreciation and amortization and $23.8M of share-based compensation. Working capital and other items added $161.1M. Capital expenditures of $215.3M left free cash flow of $257.7M.
Questions
What was Crescent Energy's revenue in the third quarter 2025?
Crescent Energy (CRGY) reported revenue of $867M for the third quarter 2025 (Q3 2025), +16% from a year earlier and -3% from the quarter before.
Was Crescent Energy profitable in the third quarter 2025?
Operating profit was $30.8M (3.6% of revenue) and net loss $10.3M.
Source: Crescent Energy 10-Q on SEC EDGAR.