Filing Flows › Viper Energy (VNOM) › Q1 2026
Viper Energy (VNOM) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Viper Energy (VNOM) reported revenue of $511M for the first quarter 2026 (Q1 2026), +109% from a year earlier and +17% from the quarter before. Operating margin was 49.5%, net earnings $97.0M (19.0% of revenue).
Viper Energy, Q1 2026: revenue $511M (+109% year over year), operating margin 49.5%, net earnings $97.0M, operating cash flow $328M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $511M | +17% | +109% |
| Operating profit | $253M | — | +63% |
| Net earnings | $97.0M | — | +29% |
| Operating cash flow | $328M | -18% | +63% |
What changed
Revenue was $511.0M in Q1 2026, up 109% year over year and up 17% from the previous quarter. Oil income was the largest line at 84% of revenue. Oil income added $227.0M year over year (up 113%), 85% of the total change.
Operating profit was $253.0M, a 49.5% margin (down 13.8 points year over year). Of the extra revenue versus a year earlier, 37% reached operating profit, below the 63% margin then. Total costs grew 187% against revenue growth of 109%. Net earnings were $97.0M, up 29% year over year. The effective tax rate was 11.5%.
Operating cash flow was $328.0M (up 63% year over year), 153% of net income including minority interests. Working capital and other items added $113.0M.
Questions
What was Viper Energy's revenue in the first quarter 2026?
Viper Energy (VNOM) reported revenue of $511M for the first quarter 2026 (Q1 2026), +109% from a year earlier and +17% from the quarter before.
Was Viper Energy profitable in the first quarter 2026?
Operating profit was $253M (49.5% of revenue) and net earnings $97.0M.
Source: Viper Energy 10-Q on SEC EDGAR.