Ring Energy Q3 adjusted net income, EBITDA beat estimates despite lower oil prices
REI•Ring Energy reported Q3 adjusted net income of $27.3 million and adjusted EBITDA of $57.1 million, above analyst estimates of $17.8 million and $50.06 million, respectively. Revenue fell 2% sequentially, while the company completed $30.5 million in non-core asset sales and reduced debt by $10 million.
1. Quarterly results
Ring Energy’s Q3 adjusted net income was $27.3 million, compared with an analyst estimate of $17.8 million, and adjusted EBITDA was $57.1 million versus an estimate of $50.06 million. The company reported a net loss of $16.6 million. Revenue declined 2% sequentially, mainly because of lower realized oil prices, while sales volumes rose 3%.
2. Outlook and asset sales
The company expects Q4 2026 oil production of 12,900 to 13,500 barrels per day and total sales of 20,400 to 21,200 barrels of oil equivalent per day. For 2027, it expects oil production of 13,200 to 14,300 barrels per day and total sales of 21,000 to 23,000 barrels of oil equivalent per day. Ring Energy completed $30.5 million in non-core asset sales, acquired $18.8 million of leasehold interests and reduced debt by $10 million.
