Filing Flows › Talos Energy (TALO) › Q1 2026
Talos Energy (TALO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Talos Energy (TALO) reported revenue of $472M for the first quarter 2026 (Q1 2026), -8% from a year earlier and +20% from the quarter before. Operating margin was -25.3%, net loss $256M (54.2% of revenue).
Talos Energy, Q1 2026: revenue $472M (-8% year over year), operating margin -25.3%, net loss $256M, operating cash flow $174M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $472M | +20% | -8% |
| Operating profit | −$119M | — | -375% |
| Net earnings | −$256M | — | — |
| Operating cash flow | $174M | -14% | -35% |
| Free cash flow | $21.6M | -74% | -85% |
What changed
Revenue was $472.3M in Q1 2026, down 8% year over year and up 20% from the previous quarter. Oil and Condensate was the largest line at 86% of revenue. Oil and Condensate lost $32.7M year over year (down 7%), 80% of the total change.
Operating costs exceeded revenue by $119.4M, an operating margin of -25.3%. Total costs grew 26% against a revenue fall of 8%. The fastest-growing cost line was Other operating costs (+27%). The quarter ended with a net loss of $256.0M, wider than the previous quarter's $203.6M loss. Net interest and other expense of $201.9M was the main reason.
Operating cash flow was $174.0M (down 35% year over year). Non-cash charges added back $230.4M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items added $194.3M. Capital expenditures of $152.4M left free cash flow of $21.6M.
Questions
What was Talos Energy's revenue in the first quarter 2026?
Talos Energy (TALO) reported revenue of $472M for the first quarter 2026 (Q1 2026), -8% from a year earlier and +20% from the quarter before.
Was Talos Energy profitable in the first quarter 2026?
Operating loss was $119M (-25.3% of revenue) and net loss $256M.
Source: Talos Energy 10-Q on SEC EDGAR.