Earnings missed consensus slightly, but strong cash flow and maintained FY26 guidance provide a floor. Watch Q3 oil volume guidance (163 MBopd midpoint) and LOE trends for cost inflation. The 75% FCF return target starting Q3 could be a catalyst if commodity prices hold.
Price Chart
Executive Summary
Chord Energy Q2 2026 adjusted EPS of $6.44 narrowly missed consensus of $6.52 (1.2% miss), and total oil/NGL/gas revenue of $1.494B missed the $1.61B consensus by 7.2%. However, cash flow from operations ($1.116B) and adjusted free cash flow ($413M) exceeded expectations, with oil production at the high-end of guidance. FY26 production and CapEx guidance were maintained, though LOE midpoint was raised, indicating some cost pressure.
Key Financial Metrics
Key Facts
- Adjusted EPS $6.44 vs consensus $6.52 (-1.2% miss)
- Oil/NGL/gas revenues $1.494B vs consensus $1.61B (-7.2% miss)
- Net cash from operations $1,116.2M; Adjusted FCF $413.4M
- Q2 oil volumes 165.4 MBopd at high-end of guidance
- FY26 oil volume midpoint unchanged at 161 MBopd; CapEx midpoint unchanged at $1.4B
- FY26 LOE midpoint raised to $10.30/BOE from prior guidance
- Declared base dividend $1.30/share; repurchased $147.4M in shares (1.1M shares at avg $133.47)
- 4-mile lateral program progressing; 26 wells completed to date
Financial Impact
EPS miss of $0.08/share and revenue miss of $116M vs consensus, but cash flow beat expectations. Net income $525.2M vs $389.9M loss YoY.
Risk Factors
- Oil price decline below the $75/Bbl WTI assumption used for 2H26 guidance would pressure cash flow
- LOE cost inflation above $10.55/BOE midpoint range
- Q4 oil volumes expected to decline from Q3, reducing cash flow generation
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302844081 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | Institutional Cluster | $150.48 | awaiting T+5 | — | $156.15 (+3.77%) |
Oct 19, 2026 7d ago | 8-K | $152.22 | awaiting T+5 | — | $156.15 (+2.58%) |
Oct 19, 2026 7d ago | Press Release | $152.22 | awaiting T+5 | — | $156.15 (+2.58%) |
Oct 19, 2026 7d ago | Press Release | $154.48 $156.15 | ▲ +1.08% | ▲ +1.23% | $156.15 (+1.08%) |
Oct 19, 2026 7d ago | Press Release | $154.48 $156.15 | ▲ +1.08% | ▲ +1.23% | $156.15 (+1.08%) |
Aug 12, 2026 10w ago | Insider Cluster | $134.46 $148.81 | ▲ +10.68% | ▲ +12.64% | $156.15 (+16.14%) |
Aug 5, 2026 11w ago | Press Release | $132.50 $134.46 | ▲ +1.48% | ▲ +0.26% | $156.15 (+17.85%) |
Jun 12, 2026 19w ago | Institutional Cluster | $135.34 $123.12 | ▼ −9.03% | ▼ −9.70% | $156.15 (+15.38%) |
May 18, 2026 23w ago | Insider Cluster | $148.35 $133.70 | ▼ −9.88% | ▼ −12.17% | $156.15 (+5.26%) |
May 7, 2026 24w ago | S-3ASR | $136.44 $142.54 | ▲ +4.47% | ▲ +3.01% | $156.15 (+14.45%) |
US Market Status
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