Diversified Energy — Third Quarter 2026 Earnings Summary

Diversified Energy Company reported third-quarter 2026 net income of $202 million, which included a $348 million non-cash loss on unsettled derivatives, while generating $256 million in adjusted EBITDA and $153 million in adjusted free cash flow. The company achieved average daily production of 1,189 MMcfepd with a commodity mix of 72% natural gas, 14% oil, and 14% NGLs, and returned approximately $157 million to shareholders year-to-date through dividends and share repurchases. Diversified is on schedule to close its acquisition of Birch Resources in the fourth quarter, a transaction expected to increase adjusted EBITDA by 55% and adjusted free cash flow by over 100% on a pro forma basis. The company maintains a leverage ratio of 2.66x as of September 30, 2026, and has reiterated its full-year 2026 guidance for adjusted EBITDA between $960 million and $1,010 million.