Filing Flows › Phoenix Energy One, LLC (PHXE-P) › Q2 2026 › vs Q2 2025
Phoenix Energy One, LLC (PHXE-P) Q2 2026 vs Q2 2025 (year over year)
Phoenix Energy One, LLC's revenue rose $242M (+148%) from $164M in Q2 2025 to $406M in Q2 2026. The biggest changes: Product +$145M (+149%); Crude Oil +$77.2M (+251%); Mineral and Royalty +$17.2M (+54%). Operating margin 40.3% against 28.5% (+11.8 pts).
Phoenix Energy One, LLC, Q2 2026: revenue $406M (+148% year over year), operating margin 40.3%, net earnings $106M, operating cash flow $173M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 40.3% | 28.5% | +11.8 pts |
| Net margin | 26.1% | 11.4% | +14.7 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Product | $242M | $97.3M | $145M | +149% |
| Crude Oil | $108M | $30.8M | $77.2M | +251% |
| Mineral and Royalty | $49.1M | $32.0M | $17.2M | +54% |
| Water Services | $6.1M | $3.7M | $2.4M | +66% |
| Other Revenue | $694K | $92K | $602K | +654% |
| Revenue | $406M | $164M | $242M | +148% |
| Operating profit | $164M | $46.7M | $117M | +250% |
| Costs & expenses | $242M | $117M | $125M | +107% |
| Pre-tax earnings | $106M | $18.7M | $87.3M | +467% |
| Other expense, net | $57.5M | $28.0M | $29.5M | +106% |
| Cost of revenue | $51.6M | $35.2M | $16.4M | +47% |
| SG&A | $2.8M | $6.4M | −$3.6M | -57% |
| Other operating costs | $188M | $75.6M | $112M | +149% |
| Net earnings | $106M | $18.7M | $87.3M | +467% |
| Depreciation & amortization | $74.3M | $36.6M | $37.6M | +103% |
| Share-based compensation | $43K | $0 | $43K | — |
| Working capital & other | $6.8M | −$29.4M | $36.2M | — |
| Operating cash flow | $173M | $84.7M | $88.8M | +105% |
Questions
How much did Phoenix Energy One, LLC's revenue grow year over year in Q2 2026?
Phoenix Energy One, LLC's revenue rose $242M (+148%) from $164M in Q2 2025 to $406M in Q2 2026.
What drove Phoenix Energy One, LLC's revenue change in Q2 2026?
Product +$145M (+149%); Crude Oil +$77.2M (+251%); Mineral and Royalty +$17.2M (+54%).