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HighPeak Energy (HPK) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · HighPeak Energy (HPK) Q2 2026 earnings results →
Q2 2026 Revenue up 26% year over year to $272M · 30¢ of every $1 of revenue kept as net profit · operating margin 29.5%
HighPeak Energy made $272M in Q2 2026 (+26% Y/Y): Crude Oil Sales $260M, Natural Gas and NGL Sales $12.1M. Operating margin 29.5%, net earnings $82.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $272.4M in Q2 2026, up 26% year over year and up 26% from the previous quarter. Crude Oil Sales was the largest line at 96% of revenue. Crude Oil Sales added $63.6M year over year (up 32%), 114% of the total change. Natural Gas and NGL Sales declined 39%.
Operating profit was $80.2M, a 29.5% margin (up 9.4 points year over year). Of the extra revenue versus Q2 2025, 66% reached operating profit, above the 20% margin then. Total costs grew 11% against revenue growth of 26%. The fastest-growing cost line was SG&A (+24%). Net earnings were $82.3M, up 214% year over year. The effective tax rate was 16.7%.
Operating cash flow was $126.3M (down 11% year over year), 154% of net earnings. Non-cash charges added back $113.4M of depreciation and amortization and $868K of share-based compensation. Working capital and other items used $70.2M. Capital expenditures of $107.6M left free cash flow of $18.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $272M | +26% | 29.5% | $82.3M | $126M |
| Q1 2026 | 10-Q | May 6, 2026 | $216M | -21% | 16.7% | −$127M | $54.2M |
| Q4 2025 | 10-K | Mar 11, 2026 | $217M | -23% | -7.6% | −$25.2M | $93.1M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $189M | -30% | 17.3% | −$18.3M | $120M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $200M | -27% | 21.7% | $26.2M | $141M |
| Q1 2025 | 10-Q | May 12, 2025 | $257M | -10% | 35.1% | $36.3M | $157M |
| Q4 2024 | 10-K | Mar 10, 2025 | $283M | -12% | 26.1% | $9.0M | $140M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- DK Trading and Supply, LLC — 82% of its revenue · Stated in 10-K (XBRL) · source
- ET — 8% of its revenue · Stated in 10-K (sentence) · source
About HighPeak Energy
HighPeak Energy, Inc. is a publicly traded independent crude oil and natural gas company, headquartered in Fort Worth, Texas, focused on the acquisition, development, exploration and exploitation of unconventional crude oil and natural gas reserves in the Midland Basin in West Texas. For more information, please visit our website at www.highpeakenergy.com .
In its own words, from its 8-K, filed Aug 10, 2026.
HighPeak Energy against its Drilling Oil & Gas Wells peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +7%. Operating margin: 29.5% against the peers' median 15.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HPK HighPeak Energy | Q2 2026 | $272M | +26% | 29.5% |
| PTEN Patterson UTI Energy | Q3 2026 | $1.3B | +14% | 4.7% |
| HP Helmerich & Payne | Q3 FY26 | $1.0B | -0.6% | 18.2% |
| RIG Transocean | Q3 2026 | $937M | -9% | 15.3% |
| NBR Nabors Industries | Q3 2026 | $872M | +7% | 15.7% |
| NE Noble | Q3 2026 | $729M | -9% | 8.2% |
| VAL Valaris | Q3 2026 | $594M | -0.4% | 13.7% |
| SDRL Seadrill | Q3 2026 | $428M | +18% | 10.3% |
Source: HighPeak Energy 10-Q on SEC EDGAR · CIK 1792849 · Drilling Oil & Gas Wells
13F: who owns HPK and who is buying
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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