Filing Flows › Energy › Phoenix Energy One, LLC (PHXE-P)
Phoenix Energy One, LLC (PHXE-P) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · Phoenix Energy One, LLC (PHXE-P) Q2 2026 earnings results →
Q2 2026 Revenue up 148% year over year to $406M · 26¢ of every $1 of revenue kept as net profit · operating margin 40.3%
Phoenix Energy One, LLC made $406M in Q2 2026 (+148% Y/Y): Product $242M, Crude Oil $108M, Mineral and Royalty $49.1M. Operating margin 40.3%, net earnings $106M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
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What changed this quarter
Revenue was $405.9M in Q2 2026, up 148% year over year and up 36% from the previous quarter. Product was the largest line at 60% of revenue. Product added $144.6M year over year (up 149%), 60% of the total change.
Operating profit was $163.5M, a 40.3% margin (up 11.8 points year over year). Of the extra revenue versus Q2 2025, 48% reached operating profit, above the 29% margin then. Total costs grew 107% against revenue growth of 148%. The fastest-growing cost line was Other operating costs (+149%). Net earnings were $106.0M, up 467% year over year. The effective tax rate was 0.0%.
Operating cash flow was $173.5M (up 105% year over year), 164% of net earnings. Non-cash charges added back $74.3M of depreciation and amortization and $43K of share-based compensation.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $406M | +148% | 40.3% | $106M | $173M |
| Q1 2026 | 10-Q | May 13, 2026 | $299M | +158% | 30.7% | −$140M | $104M |
| Q4 2025 | 10-K | Mar 17, 2026 | $219M | +115% | 19.9% | $33.3M | $110M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $189M | +220% | 24.5% | $8.5M | $90.0M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $164M | +105% | 28.5% | $18.7M | $84.7M |
| Q1 2025 | 10-Q | May 16, 2025 | $116M | +184% | 33.8% | $5.6M | $15.9M |
Charts
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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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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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About Phoenix Energy One, LLC
Phoenix Energy One, LLC (“ Phoenix Energy ”) is a Delaware limited liability company focused on oil and gas operations and acquisitions primarily in the Williston Basin, North Dakota/Montana, the Uinta Basin, Utah, the Permian Basin, Texas, the Denver-Julesburg Basin, Colorado/Wyoming and the Powder River Basin, Wyoming. The Company was formed in April 2019 as Phoenix Capital Group Holdings, LLC and changed its name to Phoenix Energy One, LLC in January 2025. As used in these condensed consolidated financial statements, unless the context otherwise requires, references to the “Company,” “we,” “us,” and “our” refer to Phoenix Energy and its consolidated subsidiaries.
In its own words, from its 10-Q, filed Aug 10, 2026.
Phoenix Energy One, LLC against its Crude Petroleum & Natural Gas peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +148% against the peers' median +52%. Operating margin: 40.3% against the peers' median 33.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| PHXE-P Phoenix Energy One, LLC | Q2 2026 | $406M | +148% | 40.3% |
| EOG EOG Resources | Q3 2026 | $8.5B | +46% | 41.9% |
| OXY Occidental Petroleum | Q2 2026 | $8.1B | +53% | 48.5% |
| DVN Devon Energy | Q3 2026 | $6.9B | +58% | 18.3% |
| FANG Diamondback Energy | Q3 2026 | $5.4B | +38% | 46.0% |
| EXE Expand Energy | Q3 2026 | $3.3B | +11% | 19.5% |
| PARR PAR Pacific Holdings | Q3 2026 | $3.1B | +52% | 15.5% |
| OVV Ovintiv | Q3 2026 | $2.6B | +26% | 33.7% |
| SM SM Energy | Q3 2026 | $2.2B | +167% | 10.9% |
Source: Phoenix Energy One, LLC 10-Q on SEC EDGAR · CIK 1818643 · Crude Petroleum & Natural Gas
More on PHXE-P
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results