Filing Flows › Viper Energy (VNOM) › Q2 2026 › vs Q1 2026
Viper Energy (VNOM) Q2 2026 vs Q1 2026 (quarter over quarter)
Viper Energy's revenue rose $166M (+32%) from $511M in Q1 2026 to $677M in Q2 2026. The biggest changes: Oil income +$154M (+36%); Natural gas liquids income +$23.0M (+44%); Natural gas income −$15.0M (-94%). Operating margin 63.2% against 49.5% (+13.7 pts).
Viper Energy, Q2 2026: revenue $677M (+128% year over year), operating margin 63.2%, net earnings $142M, operating cash flow $487M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 63.2% | 49.5% | +13.7 pts |
| Net margin | 21.0% | 19.0% | +2.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Oil income | $582M | $428M | $154M | +36% |
| Natural gas liquids income | $75.0M | $52.0M | $23.0M | +44% |
| Natural gas income | $1.0M | $16.0M | −$15.0M | -94% |
| Other revenues | $19.0M | $15.0M | $4.0M | +27% |
| Revenue | $677M | $511M | $166M | +32% |
| Operating profit | $428M | $253M | $175M | +69% |
| Costs & expenses | $249M | $258M | −$9.0M | -3% |
| Pre-tax earnings | $403M | $243M | $160M | +66% |
| Other expense, net | $25.0M | $10.0M | $15.0M | +150% |
| Net earnings | $142M | $97.0M | $45.0M | +46% |
| Minority interests | $189M | $118M | $71.0M | +60% |
| Income tax | $72.0M | $28.0M | $44.0M | +157% |
| Depreciation & amortization | $195M | $0 | $195M | — |
| Working capital & other | $150M | $231M | −$81.0M | -35% |
| Operating cash flow | $487M | $328M | $159M | +48% |
Questions
How much did Viper Energy's revenue grow quarter over quarter in Q2 2026?
Viper Energy's revenue rose $166M (+32%) from $511M in Q1 2026 to $677M in Q2 2026.
What drove Viper Energy's revenue change in Q2 2026?
Oil income +$154M (+36%); Natural gas liquids income +$23.0M (+44%); Natural gas income −$15.0M (-94%).