Watch for oil price movements and next quarter's production vs guidance (Q2 midpoint 12,950 Bo/d). The beat vs consensus may provide short-term support, but YoY declines and elevated leverage (2.42x) warrant caution.
Price Chart
Executive Summary
Ring Energy reported Q1 2026 adjusted EPS of $0.04, beating consensus of $0.02 by 100%, and revenue of $73.7M, 5.4% above $69.9M estimates. However, GAAP net loss was $220.6M due to a $162M non-cash impairment and $77M unrealized derivative loss, while revenue declined 6.8% YoY on lower oil prices. The company provided quarterly guidance for the remainder of 2026, maintaining production targets.
Key Financial Metrics
Key Facts
- Adjusted EPS $0.04 vs consensus $0.02 (beat 100%)
- Revenue $73.7M vs consensus $69.9M (beat 5.4%)
- GAAP net loss $220.6M due to $162.1M ceiling test impairment and $77.0M unrealized derivative loss
- Revenue declined 6.8% YoY from $79.1M to $73.7M on lower realized prices
- 26th consecutive quarter of positive operating cash flow ($25.9M)
- LOE of $10.41/Boe, 3% below low end of guidance
- Provided Q2-Q4 2026 guidance: oil production to increase from 12,950 Bo/d midpoints in Q2 to 13,300 in Q4
- Borrowings increased by $6M to $426M, liquidity $160M
- Leverage ratio 2.42x, well below 3.00x covenant
Financial Impact
Revenue decline of ~$5.4M YoY ($73.7M vs $79.1M) due to lower oil prices; adjusted net income fell 31% YoY to $7.4M
Risk Factors
- Oil price volatility impacting revenue and impairment risk
- High leverage (2.42x) limits financial flexibility
- Non-cash impairments may recur if commodity prices weaken
- Production guidance unchanged despite capex acceleration
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3289460 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Press Release | $1.43 | awaiting T+20 | — | $1.42 (−0.70%) |
Oct 15, 2026 11d ago | DEFA14A | $1.37 | awaiting T+20 | — | $1.42 (+3.65%) |
Sep 22, 2026 4w ago | Institutional Cluster | $1.34 $1.38 | ▲ +2.99% | ▲ +3.54% | $1.42 (+5.97%) |
Jul 22, 2026 13w ago | Press Release | $1.31 $1.49 | ▲ +13.74% | ▲ +10.43% | $1.42 (+8.40%) |
May 14, 2026 23w ago | 8-K | $1.36 $1.29 | ▲ +5.15% | ▲ +7.27% | $1.42 (−4.41%) |
May 13, 2026 23w ago | 424B5 | $1.33 $1.29 | ▲ +3.01% | ▲ +2.15% | $1.42 (−6.77%) |
May 12, 2026 23w ago | Press Release | $1.26 $1.26 | · 0.00% | ▼ −0.61% | $1.42 (−12.70%) |
May 6, 2026 24w ago | Press Release | $1.65 $1.35 | ▼ −18.18% | ▼ −21.32% | $1.42 (−13.94%) |
Apr 30, 2026 25w ago | Press Release | $1.82 $1.32 | ▼ −27.47% | ▼ −32.74% | $1.42 (−21.98%) |
Mar 5, 2026 33w ago | 8-K | $1.54 $1.56 | ▲ +1.30% | ▲ +3.34% | $1.42 (−7.79%) |
US Market Status
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