Monitor the pending Buckhorn acquisition close in Q4 2026 and its impact on pro forma leverage (~1.0x last twelve months Adjusted EBITDA). The raised production guidance and strong free cash flow generation support the new return of capital framework (base dividend + buybacks).
How the stock moved after the report
BULLISH VIEWSTOCK BELOW ENTRY AT T+1- T+0 · Nov 2 $44.17entry
- T+1 · yesterday −7.04%α −8.69% · $41.06
- T+2 · todayOpen
- T+5 · in 4d Pending
- T+20 · in 26d Pending
- T+60 · in 3mo Pending
Price Chart
REPLAYWatch the reaction play outHow similar events traded
Executive Summary
Viper Energy reported Q3 2026 net income of $300M on total operating income of $661M, with adjusted EBITDA of $596M and free cash flow of $520M. The company announced two acquisitions (McElroy Ranch for ~$529M and pending Buckhorn for $280M cash plus stock) and raised full-year 2026 production guidance to 67,250-67,750 bo/d. EPS of $0.72 GAAP diluted beat the $0.68 consensus estimate.
Key Financial Metrics
Key Facts
- Q3 2026 net income of $300M vs year-ago net loss of $197M
- GAAP diluted EPS of $0.72 vs consensus estimate of $0.68 (beat)
- Total operating income of $661M, up 58% YoY from $418M
- Adjusted EBITDA of $596M; Adjusted EBITDA margin of 90%
- Free cash flow of $520M; Free cash flow margin of 79%
- Average daily oil production of 69,076 bo/d, up 23% YoY
- Raised full-year 2026 production guidance to 67,250-67,750 bo/d (midpoint 67,500)
- Q4 2026 production guidance initiated at 70,000-71,000 bo/d
- McElroy Ranch Acquisition for ~$529M (closed September 2026)
- Pending Buckhorn Acquisition for $280M cash + 1.8M shares (expected Q4 2026 close)
- Declared Q3 2026 base dividend of $0.50 per Class A share
- Repurchased 2.1M Class A shares for ~$90M in Q3 2026
- Net debt of $2.4B as of September 30, 2026
Financial Impact
EPS beat consensus by $0.04 (5.9%); revenue (total operating income) of $661M vs consensus $611.5M; production guidance raised; two acquisitions totaling ~$809M in aggregate consideration
Risk Factors
- Commodity price volatility (unhedged oil price exposure; Q3 2026 average realized oil price $87.65/bbl)
- Integration risk from two large acquisitions closing in quick succession
- Dependence on Diamondback and third-party operators for development activity
- Net debt of $2.4B; leverage could increase if acquisitions are funded with additional debt
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3393700 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 2, 2026 2d ago | 8-K | No price | awaiting T+60 | awaiting T+60 | No price |
Nov 2, 2026 2d ago | Press Release | $44.17 | awaiting T+60 | awaiting T+60 | $41.06 (−7.04%) |
Oct 12, 2026 23d ago | Institutional Cluster | $43.37 | awaiting T+60 | awaiting T+60 | $41.06 (−5.33%) |
Sep 30, 2026 5w ago | Press Release | $39.89 | awaiting T+60 | awaiting T+60 | $41.06 (+2.93%) |
Sep 16, 2026 7w ago | 8-K | $42.93 | awaiting T+60 | awaiting T+60 | $41.06 (−4.36%) |
Sep 8, 2026 8w ago | 8-K | $45.27 | awaiting T+60 | awaiting T+60 | $41.06 (−9.30%) |
Jul 2, 2026 17w ago | 8-K | $40.75 $40.53 | ▼ −0.54% | ▼ −3.34% | $41.06 (+0.76%) |
Jul 1, 2026 18w ago | Press Release | $40.75 $40.93 | ▲ +0.44% | ▼ −3.13% | $41.06 (+0.76%) |
Jun 15, 2026 20w ago | 8-K | $43.46 $44.84 | ▲ +3.18% | ▲ +2.18% | $41.06 (−5.52%) |
Jun 12, 2026 20w ago | Institutional Cluster | $44.38 $44.89 | ▲ +1.15% | ▼ −2.11% | $41.06 (−7.48%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers