Filing Flows › HighPeak Energy (HPK) › Q2 2026 › vs Q2 2025
HighPeak Energy (HPK) Q2 2026 vs Q2 2025 (year over year)
HighPeak Energy's revenue rose $55.9M (+26%) from $216M in Q2 2025 to $272M in Q2 2026. The biggest changes: Crude Oil Sales +$63.6M (+32%); Natural Gas and NGL Sales −$7.7M (-39%). Operating margin 29.5% against 20.1% (+9.4 pts).
HighPeak Energy, Q2 2026: revenue $272M (+26% year over year), operating margin 29.5%, net earnings $82.3M, operating cash flow $126M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 29.5% | 20.1% | +9.4 pts |
| Net margin | 30.2% | 12.1% | +18.1 pts |
| Free cash flow margin | 6.9% | 6.9% | +0.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Crude Oil Sales | $260M | $197M | $63.6M | +32% |
| Natural Gas and NGL Sales | $12.1M | $19.7M | −$7.7M | -39% |
| Revenue | $272M | $216M | $55.9M | +26% |
| Other income, net | $18.5M | −$9.6M | $28.1M | — |
| Operating profit | $80.2M | $43.4M | $36.8M | +85% |
| Costs & expenses | $192M | $173M | $19.1M | +11% |
| Pre-tax earnings | $98.7M | $33.8M | $64.9M | +192% |
| SG&A | $7.0M | $5.7M | $1.3M | +24% |
| Other operating costs | $185M | $167M | $17.8M | +11% |
| Net earnings | $82.3M | $26.2M | $56.1M | +214% |
| Income tax | $16.4M | $7.7M | $8.8M | +115% |
| Depreciation & amortization | $113M | $101M | $12.2M | +12% |
| Share-based compensation | $868K | $88K | $780K | +886% |
| Working capital & other | $70.2M | −$13.7M | $84.0M | — |
| Operating cash flow | $126M | $141M | −$14.9M | -11% |
| Free cash flow (OCF − capex) | $18.8M | $14.9M | $3.9M | +26% |
| Capital expenditures | $108M | $126M | −$18.7M | -15% |
Questions
How much did HighPeak Energy's revenue grow year over year in Q2 2026?
HighPeak Energy's revenue rose $55.9M (+26%) from $216M in Q2 2025 to $272M in Q2 2026.
What drove HighPeak Energy's revenue change in Q2 2026?
Crude Oil Sales +$63.6M (+32%); Natural Gas and NGL Sales −$7.7M (-39%).