Filing Flows › HighPeak Energy (HPK) › Q3 2026 › vs Q2 2026
HighPeak Energy (HPK) Q3 2026 vs Q2 2026 (quarter over quarter)
HighPeak Energy's revenue fell $15.6M (-6%) from $272M in Q2 2026 to $257M in Q3 2026. The biggest changes: Crude Oil Sales −$24.6M (-9%); Natural Gas and NGL Sales +$9.0M (+75%).
HighPeak Energy, Q3 2026: revenue $257M (+23% year over year), operating margin 27.9%, net loss $55.7M, operating cash flow $110M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 14.9% | 6.9% | +8.1 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Crude Oil Sales | $236M | $260M | −$24.6M | -9% |
| Natural Gas and NGL Sales | $21.1M | $12.1M | $9.0M | +75% |
| Revenue | $257M | $272M | −$15.6M | -6% |
| Income tax benefit | $15.4M | −$16.4M | $31.9M | — |
| Net loss | $55.7M | −$82.3M | $138M | — |
| Costs & expenses | $328M | $291M | $37.0M | +13% |
| Operating costs | $185M | $192M | −$7.1M | -4% |
| Interest & other, net | $143M | −$18.5M | $161M | — |
| SG&A | $6.1M | $7.0M | −$946K | -14% |
| Other operating costs | $179M | $185M | −$6.1M | -3% |
| Operating cash sources | $165M | $44.1M | $121M | +275% |
| Depreciation & amortization | $101M | $113M | −$12.2M | -11% |
| Share-based compensation | $875K | $868K | $7K | +0.8% |
| Working capital & other | $63.2M | −$70.2M | $133M | — |
| Net loss absorbed | $55.7M | −$82.3M | $138M | — |
| Operating cash flow | $110M | $126M | −$16.8M | -13% |
| Free cash flow (OCF − capex) | $38.4M | $18.8M | $19.6M | +105% |
| Capital expenditures | $71.2M | $108M | −$36.4M | -34% |
Questions
How much did HighPeak Energy's revenue grow quarter over quarter in Q3 2026?
HighPeak Energy's revenue fell $15.6M (-6%) from $272M in Q2 2026 to $257M in Q3 2026.
What drove HighPeak Energy's revenue change in Q3 2026?
Crude Oil Sales −$24.6M (-9%); Natural Gas and NGL Sales +$9.0M (+75%).