Filing Flows › Northern Oil & Gas (NOG) › Q2 2026
Northern Oil & Gas (NOG) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
Northern Oil & Gas (NOG) reported revenue of $745M for the second quarter 2026 (Q2 2026), +5% from a year earlier and up 148-fold from the quarter before. Operating margin was 47.3%, net earnings $237M (31.8% of revenue).
Northern Oil & Gas, Q2 2026: revenue $745M (+5% year over year), operating margin 47.3%, net earnings $237M, operating cash flow $322M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $745M | 148× | +5% |
| Operating profit | $353M | — | +100% |
| Net earnings | $237M | — | +138% |
| Operating cash flow | $322M | -0.6% | -11% |
| Free cash flow | $159M | — | — |
What changed
Revenue was $745.2M in Q2 2026, up 5% year over year and up 14719% from the previous quarter.
Operating profit was $352.5M, a 47.3% margin (up 22.4 points year over year). Of the extra revenue versus Q2 2025, 459% reached operating profit, above the 25% margin then. Total costs fell 26% while revenue rose 5%. The fastest-growing cost line was General & admin (+57%). Net earnings were $236.6M, up 138% year over year. The effective tax rate was 23.8%.
Operating cash flow was $321.6M (down 11% year over year), 136% of net earnings. Non-cash charges added back $4.4M of share-based compensation. Working capital and other items added $80.6M. After capital Expenditures, net ($162.6M), free cash flow as the company reports it was $159.0M.
Questions
What was Northern Oil & Gas' revenue in the second quarter 2026?
Northern Oil & Gas (NOG) reported revenue of $745M for the second quarter 2026 (Q2 2026), +5% from a year earlier and up 148-fold from the quarter before.
Was Northern Oil & Gas profitable in the second quarter 2026?
Operating profit was $353M (47.3% of revenue) and net earnings $237M.
Source: Northern Oil & Gas 10-Q on SEC EDGAR.