Granite Ridge Q2 adjusted EPS beats, net income misses estimates
GRNT•Outlook for 2026
Granite Ridge sees 2026 annual production at 34,000-36,000 Boe per day.
The company expects 2026 total capital expenditures of $345 million to $385 million and lease operating expenses of $8.25-$9.25 per Boe.
Quarterly results
Granite Ridge said second-quarter adjusted earnings per share beat analyst expectations, while adjusted net income missed estimates.
The U.S. oil and gas producer grew daily production 1% year over year to 32,044 Boe per day. Lease operating expenses rose 47% per Boe, driven by higher water cuts and flowback operations.
Key drivers and reported metrics
- Production growth was driven by bringing 7.2 net wells online.
- Higher operating costs reflected increased saltwater disposal costs from higher water cuts and flowback operations, surface equipment rentals, and contract labor.
- Average realized oil price rose to $93.93 per Bbl from $61.41 per Bbl in Q2 2025.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
