PEDEVCO Q2 revenue jumps on higher production - PED News | RalliesPEDEVCO Q2 revenue jumps on higher production
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PED• Outlook
- PEDEVCO plans to drill or participate in over 20 gross wells in H2 2026
- Company expects production to be lower in July, improving as new wells contribute
- Development plan expected to drive future production and cash flow growth
Analyst coverage
- The one available analyst rating on the shares is "buy"
- The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
- Wall Street's median 12-month price target for PEDEVCO Corp is $18.00, about 60% above its August 12 closing price of $11.25
- The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 11 three months ago
Quarterly results
- U.S. oil and gas producer's Q2 revenue rose 561% yr/yr on higher production, pricing
- Q2 net income swung to profit from loss, reflecting expanded asset base and derivatives gain
- Adjusted EBITDA for Q2 surged 516% yr/yr, driven by higher volumes and oil price
Result drivers and key details
- ASSET BASE EXPANSION - Higher production volumes and revenue driven by assets acquired in the October 2025 Juniper Merger
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Net Income | | $17.45 mln | |
| Q2 Adjusted EBITDA | | $18.67 mln | |
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