Earnings Releases·Nov 2, 2026, 4:37 PM ET

Crescent Energy — Third Quarter 2026 Earnings Summary

Total revenues rose 56% year-over-year to $1.35 billion, while Adjusted Net Income and Adjusted EBITDAX increased 179% and 62% respectively to $254 million and $786 million; net loss narrowed significantly to $0.6 million from $10.3 million in the prior year period.
The company announced the acquisition of Devon Energy's Eagle Ford assets for approximately $3.85 billion, expected to close in Q4 2026 or early 2027, alongside a strategic increase in Permian synergy targets to over $300 million.
Capital allocation remains disciplined with $367 million in Levered Free Cash Flow generated for the quarter, a fixed quarterly dividend of $0.12 per share declared, and $336 million remaining in share repurchase availability.
Balance sheet strength improved with total debt reduced to $4.72 billion and a net leverage ratio of 1.5x, supported by maintained liquidity of approximately $2.0 billion.