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Vaalco Energy (EGY) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · Vaalco Energy (EGY) Q2 2026 earnings results →
Q2 2026 Revenue up 40% year over year to $135M · 31¢ of every $1 of revenue kept as net profit · operating margin 32.3%
Vaalco Energy made $135M in Q2 2026 (+40% Y/Y): Gabon $91.8M, Egypt $43.4M. Operating margin 32.3%, net earnings $42.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
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What changed this quarter
Revenue was $135.2M in Q2 2026, up 40% year over year and up 116% from the previous quarter. Gabon was the largest line at 68% of revenue. Gabon added $33.2M year over year (up 57%), 87% of the total change.
Operating profit was $43.6M, a 32.3% margin (up 14.5 points year over year). Of the extra revenue versus Q2 2025, 69% reached operating profit, above the 18% margin then. Total costs grew 15% against revenue growth of 40%. The fastest-growing cost line was General & admin (+32%). Net earnings were $42.4M, up 407% year over year. The effective tax rate was 28.3%. Non-operating items added $15.6M, 26% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $73.7M (up 302% year over year), 174% of net earnings. Non-cash charges added back $34.3M of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items used $4.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $135M | +40% | 32.3% | $42.4M | $73.7M |
| Q1 2026 | 10-Q | May 11, 2026 | $62.6M | -43% | -25.8% | −$93.8M | −$39.2M |
| Q4 2025 | 10-K | Mar 16, 2026 | $91.0M | -25% | -71.3% | −$58.6M | $145M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $61.0M | -56% | 1.5% | $1.1M | $16.4M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $96.9M | -17% | 17.7% | $8.4M | $18.3M |
| Q1 2025 | 10-Q | May 12, 2025 | $110M | +10% | 23.7% | $7.7M | $32.7M |
| Q4 2024 | 10-K | Mar 17, 2025 | $122M | -18% | 31.6% | $11.7M | $44.5M |
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About Vaalco Energy
We are an independent energy company headquartered in Houston, Texas engaged in the acquisition, exploration, development and production of crude oil, natural gas and NGLs. We have a diversified, African-focused portfolio of production, development and exploration assets located in Gabon, Egypt, Cote d'Ivoire, Equatorial Guinea, Nigeria, as well as, prior to the Canada Asset Divestment (defined below), producing properties in Canada. Our overall business strategy is to maximize the value of our current resources and expand into new development opportunities across our strategically complementary asset base. We intend to accelerate shareholder returns and increase shareholder value by controlling operating costs and capital expenditures, maximizing reserve recoveries and making disciplined strategic accretive acquisitions that meet our strategic and financial objectives.
In its own words, from its 10-K, filed Mar 16, 2026.
Vaalco Energy against its Crude Petroleum & Natural Gas peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +40% against the peers' median +46%. Operating margin: 32.3% against the peers' median 32.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| EGY Vaalco Energy | Q2 2026 | $135M | +40% | 32.3% |
| EOG EOG Resources | Q3 2026 | $8.5B | +46% | 41.9% |
| OXY Occidental Petroleum | Q2 2026 | $8.1B | +53% | 48.5% |
| DVN Devon Energy | Q3 2026 | $6.9B | +58% | 18.3% |
| FANG Diamondback Energy | Q3 2026 | $5.4B | +38% | 46.0% |
| EXE Expand Energy | Q3 2026 | $3.3B | +11% | 19.5% |
| PARR PAR Pacific Holdings | Q3 2026 | $3.1B | +52% | 15.5% |
| OVV Ovintiv | Q3 2026 | $2.6B | +26% | 33.7% |
| SM SM Energy | Q3 2026 | $2.2B | +167% | 10.9% |
Source: Vaalco Energy 10-Q on SEC EDGAR · CIK 894627 · Crude Petroleum & Natural Gas
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results