Filing Flows › Granite Ridge Resources (GRNT) › Q1 2025
Granite Ridge Resources (GRNT) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Granite Ridge Resources (GRNT) reported revenue of $123M for the first quarter 2025 (Q1 2025), +38% from a year earlier and +16% from the quarter before. Operating margin was 34.6%, net earnings $9.8M (8.0% of revenue).
Granite Ridge Resources, Q1 2025: revenue $123M (+38% year over year), operating margin 34.6%, net earnings $9.8M, operating cash flow $76.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $123M | +16% | +38% |
| Operating profit | $42.5M | — | +117% |
| Net earnings | $9.8M | — | -40% |
| Operating cash flow | $76.1M | +12% | +11% |
| Free cash flow | $9.4M | — | — |
What changed
Revenue was $122.9M in Q1 2025, up 38% year over year and up 16% from the previous quarter.
Operating profit was $42.5M, a 34.6% margin (up 12.6 points year over year). Of the extra revenue versus a year earlier, 68% reached operating profit, above the 22% margin then. Total costs grew 16% against revenue growth of 38%. The fastest-growing cost line was Other operating costs (+16%). Net earnings were $9.8M, down 40% year over year. The effective tax rate was 22.7%.
Operating cash flow was $76.1M (up 11% year over year), 775% of net earnings. Non-cash charges added back $653K of share-based compensation. Working capital and other items added $65.6M. Capital expenditures of $66.7M left free cash flow of $9.4M.
Questions
What was Granite Ridge Resources' revenue in the first quarter 2025?
Granite Ridge Resources (GRNT) reported revenue of $123M for the first quarter 2025 (Q1 2025), +38% from a year earlier and +16% from the quarter before.
Was Granite Ridge Resources profitable in the first quarter 2025?
Operating profit was $42.5M (34.6% of revenue) and net earnings $9.8M.