Filing Flows › HighPeak Energy (HPK) › Q1 2026
HighPeak Energy (HPK) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
HighPeak Energy (HPK) reported revenue of $216M for the first quarter 2026 (Q1 2026), -21% from a year earlier and -0.4% from the quarter before. Operating margin was 16.7%, net loss $127M (59.0% of revenue).
HighPeak Energy, Q1 2026: revenue $216M (-21% year over year), operating margin 16.7%, net loss $127M, operating cash flow $54.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $216M | -0.4% | -21% |
| Operating profit | $36.0M | — | -60% |
| Net earnings | −$127M | — | -451% |
| Operating cash flow | $54.2M | -42% | -65% |
What changed
Revenue was $215.9M in Q1 2026, down 21% year over year and roughly flat from the previous quarter. Crude Oil Sales was the largest line at 92% of revenue. Crude Oil Sales lost $47.3M year over year (down 19%), 84% of the total change.
Operating profit was $36.0M, a 16.7% margin (down 16.5 points year over year). Total costs fell 1% while revenue fell 21%. The quarter ended with a net loss of $127.4M, wider than the previous quarter's $25.2M loss. Net interest and other expense of $191.1M was the main reason.
Operating cash flow was $54.2M (down 65% year over year). Non-cash charges added back $113.0M of depreciation and amortization and $865K of share-based compensation. Working capital and other items added $67.8M. Capital expenditures of $78.8M exceeded it, leaving free cash flow of −$24.6M.
Questions
What was HighPeak Energy's revenue in the first quarter 2026?
HighPeak Energy (HPK) reported revenue of $216M for the first quarter 2026 (Q1 2026), -21% from a year earlier and -0.4% from the quarter before.
Was HighPeak Energy profitable in the first quarter 2026?
Operating profit was $36.0M (16.7% of revenue) and net loss $127M.
Source: HighPeak Energy 10-Q on SEC EDGAR.