Filing Flows › Energy › Talos Energy (TALO)
Talos Energy (TALO) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Talos Energy (TALO) Q3 2026 earnings results →
Q3 2026 Revenue up 32% year over year to $596M · 14¢ of every $1 of revenue lost · operating margin 26.3%
Talos Energy made $596M in Q3 2026 (+32% Y/Y): Oil and Condensate $550M, Natural Gas Production $32.1M, Natural Gas Liquids Reserves $14.1M. Operating margin 26.3%, net loss $81.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $596.0M in Q3 2026, up 32% year over year and down 10% from the previous quarter. Oil and Condensate was the largest line at 92% of revenue. Oil and Condensate added $149.6M year over year (up 37%), 103% of the total change. Natural Gas Production declined 22%.
Operating profit was $156.9M, a 26.3% margin (up 45.5 points year over year). Total costs fell 18% while revenue rose 32%. The quarter ended with a net loss of $81.1M, after a profit of $149.9M the previous quarter. Net interest and other expense of $190.9M was the main reason.
Operating cash flow was $325.8M (up 185% year over year). Non-cash charges added back $233.4M of depreciation and amortization and $6.4M of share-based compensation. Working capital and other items added $167.0M. Capital expenditures of $140.3M left free cash flow of $185.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $596M | +32% | 26.3% | −$81.1M | $326M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $665M | +56% | 29.8% | $150M | $301M |
| Q1 2026 | 10-Q | May 6, 2026 | $472M | -8% | -25.3% | −$256M | $174M |
| Q4 2025 | 10-K | Feb 25, 2026 | $392M | -19% | -62.2% | −$204M | $202M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $450M | -12% | -19.1% | −$95.9M | $114M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $425M | -23% | -64.4% | −$186M | $352M |
| Q1 2025 | 10-Q | May 6, 2025 | $513M | +19% | 8.5% | −$9.9M | $268M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵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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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- SHEL — 35% of its revenue · Stated in 10-K (sentence) · source
- XOM — 23% of its revenue · Stated in 10-K (sentence) · source
- CVX — 12% of its revenue · Stated in 10-K (sentence) · source
- VLO — 10% of its revenue · Stated in 10-K (XBRL) · source
About Talos Energy
Talos Energy (NYSE: TALO) is a technically driven, innovative, independent energy company focused on safely maximizing long-term value through its Exploration & Production business in the United States Gulf of America and offshore Mexico. We leverage decades of technical and offshore operational expertise to acquire, explore, and produce assets in key geological trends while maintaining a focus on safe and efficient operations, environmental responsibility, and community impact. For more information, visit www.talosenergy.com .
In its own words, from its 8-K, filed Aug 4, 2026.
Talos Energy against its Crude Petroleum & Natural Gas peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +32% against the peers' median +46%. Operating margin: 26.3% against the peers' median 26.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TALO Talos Energy | Q3 2026 | $596M | +32% | 26.3% |
| 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: Talos Energy 10-Q on SEC EDGAR · CIK 1724965 · Crude Petroleum & Natural Gas
Guidance and outlook
13F: who owns TALO and who is buying
More on TALO
- How Talos Energy makes money: revenue by segment
- Talos Energy next earnings date and what analysts expect
- Talos Energy stock forecast, price target and fair value
- Who owns Talos Energy stock: holders, funds and Congress trades
- Talos Energy guidance and outlook
- Is Talos Energy a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results