Earnings Releases·Nov 9, 2026, 4:19 PM ET

Infinity Natural Resources — Third Quarter 2026 Earnings Summary

Q3 2026 total revenues surged 148% year-over-year to $197.6 million, while Adjusted EBITDAX reached a record $137.7 million (up 129% from Q3 2025), though GAAP net loss of $0.4 million included $63.2 million in non-cash mark-to-market hedge losses.
Net production hit a record 431.7 MMcfe/d in Q3, a 100% increase year-over-year, with nine-month Adjusted EBITDAX rising to $350.0 million and operating cash flow reaching $333.5 million.
Management narrowed 2026 net capital expenditure guidance to $450–$475 million and updated full-year production guidance to 355–375 MMcfe/d, while confirming the company remains on track to exceed $25 million in synergies from the Antero acquisition.
The balance sheet reflects significant leverage increases with long-term debt rising to $550.0 million and net debt to $523.8 million following the issuance of $550.0 million in senior notes and $350.0 million in preferred stock to fund the $620.5 million Antero acquisition.