Filing Flows › Talos Energy (TALO) › Q2 2026 › vs Q1 2026
Talos Energy (TALO) Q2 2026 vs Q1 2026 (quarter over quarter)
Talos Energy's revenue rose $193M (+41%) from $472M in Q1 2026 to $665M in Q2 2026. The biggest changes: Oil and Condensate +$213M (+52%); Natural Gas Production −$21.9M (-41%); Natural Gas Liquids Reserves +$1.6M (+14%). Operating margin 29.8% against -25.3% (+55.1 pts).
Talos Energy, Q2 2026: revenue $665M (+56% year over year), operating margin 29.8%, net earnings $150M, operating cash flow $301M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 29.8% | -25.3% | +55.1 pts |
| Net margin | 22.5% | -54.2% | +76.7 pts |
| Free cash flow margin | 29.9% | 4.6% | +25.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Oil and Condensate | $621M | $408M | $213M | +52% |
| Natural Gas Production | $31.0M | $52.9M | −$21.9M | -41% |
| Natural Gas Liquids Reserves | $13.0M | $11.4M | $1.6M | +14% |
| Revenue | $665M | $472M | $193M | +41% |
| Operating profit | $198M | −$119M | $318M | — |
| Costs & expenses | $467M | $592M | −$125M | -21% |
| Pre-tax earnings | $195M | −$321M | $516M | — |
| Other expense, net | $3.5M | $202M | −$198M | -98% |
| General & admin | $44.6M | $41.0M | $3.7M | +9% |
| Other operating costs | $422M | $551M | −$129M | -23% |
| Net earnings | $150M | −$256M | $406M | — |
| Income tax | $44.8M | −$65.3M | $110M | — |
| Depreciation & amortization | $229M | $230M | −$1.0M | -0.4% |
| Share-based compensation | $6.4M | $5.3M | $1.1M | +20% |
| Working capital & other | $85.0M | −$194M | $279M | — |
| Operating cash flow | $301M | $174M | $127M | +73% |
| Free cash flow (OCF − capex) | $199M | $21.6M | $177M | +822% |
| Capital expenditures | $102M | $152M | −$50.8M | -33% |
Questions
How much did Talos Energy's revenue grow quarter over quarter in Q2 2026?
Talos Energy's revenue rose $193M (+41%) from $472M in Q1 2026 to $665M in Q2 2026.
What drove Talos Energy's revenue change in Q2 2026?
Oil and Condensate +$213M (+52%); Natural Gas Production −$21.9M (-41%); Natural Gas Liquids Reserves +$1.6M (+14%).