Crescent Energy posts $132.9M profit, boosts share buyback to $400M
Crescent Energy posted a $132.9M net profit for the year, reversing a $114.6M loss, on a 22% revenue increase to $3.58B and record annual production of 260 MBoe/d. The company approved a $0.12/share dividend, expanded its share buyback program to $400M and targets 320–335 MBoe/d in 2026.
1. Swing to Annual Profitability
Crescent Energy posted a $132.9 million net income for the year, reversing a $114.6 million loss, as revenues rose 22% to $3.58 billion. Annual production averaged 260 MBoe/d with 104 MBo/d of oil, exceeding original guidance.
2. Q4 Performance Improvement
In the fourth quarter, the company narrowed its attributable net loss to $8.66 million, a 93% year-over-year improvement from a $118 million loss, while revenues dipped 1% to $865 million. Quarterly production averaged 268 MBoe/d, including 106 MBo/d of oil.
3. 2026 Production Guidance
Crescent Energy targets full-year 2026 production between 320 and 335 MBoe/d as it ramps up activity across its asset portfolio.
4. Enhanced Capital Returns
The board approved a $0.12 per share dividend payable March 25 to shareholders of record March 11 and expanded its share repurchase program to $400 million from $150 million, having already bought back $33 million.