Filing Flows › TXO Partners, L.P. (TXO) › Q2 2026 › vs Q2 2025
TXO Partners, L.P. (TXO) Q2 2026 vs Q2 2025 (year over year)
TXO Partners, L.P.'s revenue rose $61.0M (+68%) from $89.9M in Q2 2025 to $151M in Q2 2026. The biggest changes: Oil and Condensate +$71.7M (+121%); Natural Gas Reserves −$13.6M (-59%); Natural Gas Liquids Reserves +$2.9M (+36%). Operating margin 38.2% against -4.1% (+42.4 pts).
TXO Partners, L.P., Q2 2026: revenue $151M (+68% year over year), operating margin 38.2%, net earnings $60.8M, operating cash flow $49.1M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 38.2% | -4.1% | +42.4 pts |
| Net margin | 40.3% | -0.2% | +40.4 pts |
| Free cash flow margin | 22.4% | 22.5% | -0.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Oil and Condensate | $131M | $59.1M | $71.7M | +121% |
| Natural Gas Liquids Reserves | $10.8M | $7.9M | $2.9M | +36% |
| Natural Gas Reserves | $9.4M | $22.9M | −$13.6M | -59% |
| Revenue | $151M | $89.9M | $61.0M | +68% |
| Other income, net | $3.1M | $3.6M | −$474K | -13% |
| Operating profit | $57.7M | −$3.7M | $61.4M | — |
| Costs & expenses | $93.2M | $93.6M | −$387K | -0.4% |
| Pre-tax earnings | $60.8M | −$135K | $60.9M | — |
| General & admin | $4.8M | $9.5M | −$4.7M | -50% |
| Other operating costs | $88.5M | $84.1M | $4.3M | +5% |
| Net earnings | $60.8M | −$135K | $60.9M | — |
| Depreciation & amortization | $24.0M | $21.7M | $2.3M | +11% |
| Share-based compensation | $2.8M | $7.2M | −$4.5M | -62% |
| Working capital & other | $38.4M | $1.9M | $36.5M | 20× |
| Operating cash flow | $49.1M | $26.9M | $22.2M | +83% |
| Free cash flow (OCF − capex) | $33.9M | $20.2M | $13.7M | +68% |
| Capital expenditures | $15.2M | $6.7M | $8.6M | +129% |
Questions
How much did TXO Partners, L.P.'s revenue grow year over year in Q2 2026?
TXO Partners, L.P.'s revenue rose $61.0M (+68%) from $89.9M in Q2 2025 to $151M in Q2 2026.
What drove TXO Partners, L.P.'s revenue change in Q2 2026?
Oil and Condensate +$71.7M (+121%); Natural Gas Reserves −$13.6M (-59%); Natural Gas Liquids Reserves +$2.9M (+36%).