Filing Flows › Granite Ridge Resources (GRNT) › Q1 2026
Granite Ridge Resources (GRNT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Granite Ridge Resources (GRNT) reported revenue of $128M for the first quarter 2026 (Q1 2026), +4% from a year earlier and +22% from the quarter before. Operating margin was 11.6%, net loss $47.0M (36.7% of revenue).
Granite Ridge Resources, Q1 2026: revenue $128M (+4% year over year), operating margin 11.6%, net loss $47.0M, operating cash flow $58.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $128M | +22% | +4% |
| Operating profit | $14.8M | — | -65% |
| Net earnings | −$47.0M | — | -579% |
| Operating cash flow | $58.3M | -10% | -23% |
What changed
Revenue was $128.3M in Q1 2026, up 4% year over year and up 22% from the previous quarter. Oil was the largest line at 81% of revenue. Oil added $11.6M year over year (up 13%), 217% of the total change. Natural gas declined 20%.
Operating profit was $14.8M, a 11.6% margin (down 23.0 points year over year). Operating profit fell $27.7M even though revenue rose $5.3M versus Q1 2025, so costs grew faster than sales. Total costs grew 41% against revenue growth of 4%. The fastest-growing cost line was Other operating costs (+43%). The quarter ended with a net loss of $47.0M, wider than the previous quarter's $25.1M loss. Net interest and other expense of $75.5M was the main reason.
Operating cash flow was $58.3M (down 23% year over year). Non-cash charges added back $1.4M of share-based compensation. Working capital and other items added $104.0M. Capital expenditures of $60.4M exceeded it, leaving free cash flow of −$2.0M.
Questions
What was Granite Ridge Resources' revenue in the first quarter 2026?
Granite Ridge Resources (GRNT) reported revenue of $128M for the first quarter 2026 (Q1 2026), +4% from a year earlier and +22% from the quarter before.
Was Granite Ridge Resources profitable in the first quarter 2026?
Operating profit was $14.8M (11.6% of revenue) and net loss $47.0M.