DEC

Make better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge. Diversified Energy (DEC) has just released second quarter 2026 earnings and operating results, alongside fresh production guidance and a confirmed dividend. This provides several new data points to reassess the stock. The company reported quarterly revenue of US$811.91 million and net income of US$246.95 million, with basic earnings per share from continuing operations of US$3.42. For the first half of 2026, revenue was US$839.05 million and net income was US$86.33 million, compared with a loss in the same period a year earlier. See our latest analysis for Diversified Energy. The latest earnings, production guidance and dividend affirmation appear to have shifted sentiment, with Diversified Energy’s share price up 3.54% over one day and 5.83% over seven days. However, the stock’s 1 year total shareholder return is still slightly down and multi year returns remain materially weak. If you are weighing this earnings reaction and want to see what else the market is pricing in, it could be a useful moment to scan 37 power grid technology and infrastructure stocks. After this rebound and with Diversified Energy still carrying weak multi year returns, the key question is whether current pricing offers enough upside for the associated risks. The next step is to examine what the valuation actually implies. The most followed narrative currently places Diversified Energy’s fair value at $20.38, compared with the latest close of $14.34. That gap sits on a detailed set of revenue, margin and rating assumptions that investors should understand before relying on it. Read the complete narrative. Want to know how Diversified Energy still lands a higher fair value with falling revenues and thinner margins baked in? The narrative leans on a future earnings level and a higher P/E multiple than today to reach that $20.38 figure. Curious which mix of shrinking profits, valuation uplift and discount rate work together to support that price target. Result: Fair Value of $20.38 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, the Diversified Energy story can be knocked off course if energy policy turns more restrictive on gas use, or if tighter credit makes its acquisition model harder to fund. Find out about the key risks to this Diversified Energy narrative. If this mix of upside and risk around Diversified Energy feels finely balanced, do not wait to check the details yourself. Stress test your own view using 3 key rewards and 4 important warning signs. If you are reassessing Diversified Energy today, do not stop there. Broaden your watchlist with other clear ideas that could sharpen your next move. Spot potential income anchors by reviewing companies in the 9 dividend fortresses that may suit a yield focused approach. Hunt for value opportunities by checking the screener containing 21 high quality undiscovered gems that the market may not be paying close attention to yet. Prioritise resilience by scanning the 83 resilient stocks with low risk scores before capital crowds into the same limited set of familiar stocks. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include DEC. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Interested in Diversified Energy Company PLC? Here are five stocks we like better. Second-quarter results were solid: Diversified Energy reported $240 million in adjusted EBITDA, $115 million in adjusted free cash flow and $678 million of liquidity, while pro forma leverage stood at approximately 2.45 times. The company repaid about $233 million of debt principal and returned $136 million to shareholders in the first half, supported by $126 million from portfolio optimization and the $147 million sale of non-core Barnett and Arkansas assets. Diversified is expanding into operated drilling: It plans to allocate roughly half of its $250 million–$300 million annual capital program to operated development, beginning with 17 net Oklahoma wells between September 2026 and September 2027. Updated 2026 guidance calls for $960 million–$1 billion of adjusted EBITDA and approximately $440 million of free cash flow. Premium Retail’s Stress Test Is Separating Winners From Losers Diversified Energy (NYSE:DEC) reported second-quarter 2026 results marked by $240 million of adjusted EBITDA, $115 million of adjusted free cash flow and an updated full-year outlook that incorporates recent acquisitions and a newly announced operated development program. Chairman and Chief Executive Officer Rusty Hutson said the company entered the second half of the year in one of the strongest financial positions in its 25-year history, despite completing three acquisitions totaling more than $2 billion in headline value over the past 12 months. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth 5 High-Yield Stocks With Analyst Support and Room to Run For the second quarter, Diversified produced about 1.3 billion cubic feet equivalent per day, including a June exit rate of approximately 1.3 Bcfe per day. Commodity revenue totaled $504 million, or about $4.23 per Mcfe, while the adjusted EBITDA margin was 52%. The company ended June with $678 million of liquidity and pro forma leverage of approximately 2.45 times, within its stated target range of 2 times to 2.5 times. Hutson said 76% of the company’s debt is non-recourse, investment-grade-rated asset-backed securities financing. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling Apparel Earnings Winners and Losers: Ralph Lauren Takes Off Diversified repaid approximately $233 million of debt principal during the first half, including debt associated with its recently sold Barnett asset. It also returned approximately $136 million to shareholders through dividends and share repurchases. Hutson said the company has delivered roughly $2.5 billion in combined shareholder returns and debt principal repayments since its 2017 initial public offering. Management expects the business to generate about $440 million of free cash flow in 2026. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High During the first half, the company’s portfolio optimization program generated approximately $126 million of additional cash proceeds through monetization of non-core acreage and surface assets. Diversified also completed the sale of non-core, lower-margin Barnett and Arkansas assets for $147 million. Hutson said management continues to evaluate additional opportunities to high-grade the portfolio. In response to an analyst question, he described the market for proved developed producing, or PDP, assets as “very strong,” while emphasizing that the company remains selective and walks away from deals that do not meet its criteria. The principal strategic announcement was Diversified’s plan to add operated drilling to its longstanding strategy of acquiring and optimizing mature producing assets. Hutson characterized the program as an extension of the company’s existing model rather than a strategic pivot. The company expects to allocate $250 million to $300 million of annual run-rate capital across three areas: Approximately 50% to operated development; Approximately 30% to non-operated development programs; and Approximately 20% to maintenance capital for its core PDP portfolio. Executive Vice President and Chief Operating Officer Rick Gideon said the initial operated program is centered in Oklahoma, where Diversified has identified approximately 450 economic drilling locations based on assumptions of $65 per barrel oil and $3.25 natural gas. Between September 2026 and September 2027, the company plans to drill approximately 19 gross wells, or 17 net wells, with an average working interest of about 90%. Annualized net capital is expected to be approximately $145 million. The wells are expected to have average lateral lengths of about 11,000 feet and a production mix of roughly 15% oil, 35% natural gas liquids and 50% natural gas. Gideon said the initial program is expected to begin contributing production in 2027, given the anticipated timing of drilling and sales. At a one-rig pace, the identified Oklahoma inventory represents more than 20 years of drilling locations, according to the company. Management said it intends to operate the program flexibly, drilling when expected risk-adjusted returns compare favorably with acquisitions and other uses of capital. Hutson said the company could expand activity if commodity prices rise and returns improve, but it also could slow the program if prices weaken or alternative investments offer stronger returns. Management did not provide a specific expected production contribution by September 2027, saying it intends to offer more detailed guidance later in the year. Hutson said the operated and non-operated programs together are expected to offset most, if not all, of the company’s existing corporate production decline. Diversified’s non-operated program has drilled 150 wells to date and has approximately 145 locations remaining, representing about three years of inventory, Gideon said. The company reported program internal rates of return exceeding 60% to date. In Texas, Diversified expects initial drilling with Continental Resources on the Central Basin Platform during the fourth quarter of 2026. In New Mexico, it expects a private operator to begin drilling on the Northwest Shelf during the third quarter. Management said production from these activities is expected primarily in 2027 because of the timing of operations. President and Chief Financial Officer Brad Gray said Diversified’s updated 2026 guidance includes the Sheridan and Camino acquisitions, as well as capital spending for operated development. The company now expects: Total production of approximately 1.2 Bcfe per day, with 29% liquids and 71% natural gas; Adjusted EBITDA of $960 million to $1 billion; Adjusted free cash flow of approximately $440 million; and Total capital expenditures of $225 million to $255 million, including $35 million to $50 million of operated-development spending in the second half. Gray said non-operated capital expenditures were reduced to $115 million to $125 million, reflecting a reallocation toward operated development, timing factors and changes in working interest levels. He said the company expects capital allocation flexibility to remain central to its strategy, including debt reduction, shareholder returns, acquisitions and reinvestment. Diversified Energy Company PLC (NYSE: DEC) is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline. The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Diversified Energy Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Diversified Energy Company DEC used its second-quarter 2026 earnings call to frame operated drilling as an extension of its acquisition-and-optimization model, not a strategic pivot. Management said that the new Oklahoma program is designed to offset natural production declines and grow cash flow while preserving capital flexibility. The company also updated 2026 guidance after recent acquisitions and divestitures, while emphasizing debt reduction, portfolio optimization and shareholder returns. Co-Founder and CEO Rusty Hutson said that Diversified Energy plans to add a one-rig operated development program in Oklahoma after building a large undeveloped inventory through acquisitions. Chief operating officer Rick Gideon said that the company has identified about 450 economic locations using $65 per barrel oil and $3.25 per MMBtu natural gas assumptions. The initial 12-month program calls for roughly 19 gross, or 17 net, wells with about 90% average working interest. Gideon said that the program represents more than 20 years of inventory at a one-rig pace, with production contributions expected to begin in 2027. President and CFO Brad Gray said that 2026 production is expected to be 1,180 to 1,210 MMcfe per day, with total capital expenditures of $225 million to $255 million. The updated plan includes $35 million to $50 million for operated development, $115 million to $125 million for non-operated partnerships and $75 million to $80 million for maintenance and other spending. Adjusted EBITDA guidance is $960 million to $1.01 billion, while adjusted free cash flow is expected to be about $440 million. Gray said that the company remains committed to a 2.0x to 2.5x leverage target. Gray said that Diversified Energy’s low-decline production base remains central to the economics of adding development capital. He said that the company expects go-forward capital intensity of roughly 25% of adjusted EBITDA even after including operated drilling. Second-quarter adjusted EBITDA was $240 million and adjusted free cash flow was $115 million. The quarter ended with leverage of 2.45x and $678 million of liquidity, respectively. The company reported revenues of $503.7 million, which beat the Zacks Consensus Estimate of $492.5 million. The reported loss was $0.29 per share, which missed the consensus estimate of $0.20. Diversified Energy Company PLC price-consensus-eps-surprise-chart | Diversified Energy Company PLC Quote Hutson said that the PDP acquisition market remains active, but management continues to walk away from deals that do not meet its return requirements. He also said that the company sees additional opportunities to sell lower-margin or noncore assets after divesting Barnett and Arkansas properties for $147 million. In Q&A, a William Blair analyst asked whether development could displace acquisitions. Hutson said that the new program creates another option for capital deployment rather than reducing the company’s interest in acquisitions. A Truist Securities analyst asked how large the operated program could become. Hutson said that the company could scale it, but the pace will depend on returns, commodity prices and competing uses of capital. A KeyBanc analyst asked whether new production would be hedged. Hutson said that management wants to preserve some unhedged commodity upside, while Gray emphasized that Diversified Energy will continue using a disciplined hedging framework. In another exchange, Hutson said that the operated and non-operated programs could offset most or all the company’s underlying production decline, with stronger commodity prices potentially creating room for organic growth. Management’s message was that development adds another tool without changing the company’s core focus on long-life producing assets, free cash flow and disciplined capital allocation. Hutson and Gray kept debt reduction, dividends, share repurchases, acquisitions and selective development positioned as competing uses of capital, with returns determining where cash is deployed. DEC currently carries a Zacks Rank #3 (Hold). Its Value Score is A, Growth Score is C, Momentum Score is D and VGM Score is B. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Under the Zacks framework, stronger Style Scores are more favorable, and A or B scores are preferred complements to top-ranked stocks. DEC’s Value and VGM scores are favorable, while Growth and Momentum are more moderate. The Zacks Rank can change as analysts revise earnings estimates after the just-reported results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Diversified Energy Company PLC (DEC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

BIRMINGHAM, Ala., Aug. 05, 2026 (GLOBE NEWSWIRE) -- Diversified Energy Company ("Diversified", "DEC", or the "Company") (NYSE: DEC, LSE: DEC) is pleased to announce its financial and operational results for the three and six months ended June 30, 2026. Recent Highlights Closing of Camino Acquisition: Expansion in Oklahoma through the Camino acquisition, a bolt-on to our contiguous operating position with meaningful identified synergies and upside from large undeveloped inventory. Operated Development Program: Building on our proven acquisition and asset optimization model, DEC is expanding its value creation strategy through a disciplined one-rig operated development program focused on generating high-return organic cash flow growth from our high-quality, drill-ready inventory in Oklahoma. Portfolio Optimization: Completed the strategic sale of non-core, low-margin Barnett and Arkansas assets for $147M, enhancing corporate profitability and strengthening near-term adjusted free cash flow. Additionally, year-to-date acreage sales have reached $126M. Shareholder Returns:   Diversified’s cash generative, differentiated business model has allowed for year to date returns of ~$136M to shareholders, including $93M in share repurchases, representing a 14% shareholder return yield Second Quarter 2026 Results Average production: 1,253 MMcfepd (209 Mboepd) Production exit rate(a): 1,275 MMcfepd (213 Mboepd) Total Commodity Revenue: $504M Net Income: $248M, inclusive of gain on non-cash unsettled derivatives Adjusted EBITDA(b): $240M Operating Cash Flow: $89M Adjusted Free Cash Flow(c): $115M Capital Expenditures: $40M Rusty Hutson, Jr., CEO of Diversified, commented: "The Diversified team delivered another quarter of strong operational and financial performance, while maintaining our disciplined approach to capital allocation. Our differentiated business model continues to generate consistent and reliable cash flow, enabling us to strengthen the balance sheet through debt reduction, return capital to shareholders through our dividend and share repurchase programs, and invest in high-return opportunities that support long-term value creation. Importantly, we ended the quarter with leverage within our targeted range and substantial liquidity available for deployment into future value generating opportunities, underscoring the resilience of our asset base and the consistency of our portfolio's cash-generating capabilities. As we look ahead, Diversified is entering a compelling new phase of growth. The successful integration of the Canvas and Sheridan acquisitions, along with the closing of the Camino transaction have further enhanced the scale, quality, and inventory depth of our portfolio, strengthening our position as a leading owner and operator of long-life energy assets. At the same time, we are expanding our value creation playbook through the introduction of a disciplined operated development program in Oklahoma. Our focus within this expansive set of development opportunities in Oklahoma is to add future reserves and new production, which we expect will enhance and grow our cash flow. With our new operated development program, we are complementing the success of our non-operated development partnerships, portfolio optimization initiatives, and strategic infrastructure investments to grow cash flow. These complementary growth platforms provide greater flexibility in how we allocate capital, create shareholder value, and drive sustainable production and cash flow performance. With a premier acreage position, an extensive inventory of highly economic development opportunities, and multiple pathways to generate attractive returns, we are increasingly able to control our growth profile while reducing reliance on acquisitions alone to sustain long-term performance. We have never been better positioned to deliver durable cash flow, create long-term shareholder value, and build the foundation for the next 25 years of growth." Financial Strength and Shareholder Returns Liquidity: $678M of credit facility availability and unrestricted cash as of June 30, 2026 ABS principal reduction: Retired $233M in outstanding debt under certain ABS notes in 1H26 Leverage ratio(d): 2.45x as of June 30, 2026 2Q26 dividend: $0.29 per share declared Strategic Execution and Transformational Growth Adding to our Playbook: Operated Development Enhances Long-Term Cash Flow Durability Building on our proven acquisition and asset optimization model: Expanding value creation strategy through a disciplined operated development program that unlocks the value of our high-quality undeveloped acreage. Expanded significant Oklahoma footprint: Estimated more than 450 economic drilling locations at $65/Bbl oil and $3.25/MMBtu natural gas pricing, representing over 20 years of development runway at a one-rig pace. This inventory provides strong visibility into future production, reserves, and cash flow generation. Experienced execution team: Led by Chief Operating Officer Rick Gideon and internal development team. Leveraging acreage acquired primarily through PDP-focused transactions, DEC is positioned to generate attractive risk-adjusted returns through a measured, capital-disciplined development program that adds to Diversified's already resilient and proven cash generating capabilities. Proven operations platform: Supported by Smarter Asset Management practices, a vertically integrated operating platform, and technology-enabled field operations, our strategy can be executed within a low-cost framework. Non-Operated Development Platform Provides a Meaningful Driver of Capital-Efficient Growth Non-operated value creation: Serves as an important component of our strategy to unlock cash flow, providing capital-efficient production growth and attractive returns through partnerships with leading operators. Strategic partnerships: Continental Resources, Mewbourne, and a private Northwest Shelf operator provide diversified, capital-efficient exposure to high-return development opportunities across multiple core basins. Incremental production addition: Expected to offset approximately 50% of the Company's portfolio production decline, representing an estimated average contribution of approximately 12,500 Boepd during 2026. By combining operated and non-operated development opportunities with our proven acquisition and asset management expertise, Diversified has built a durable growth platform, capable of generating long-term shareholder value across commodity cycles. Unlocking Value Through Portfolio Optimization: Strategic Divestitures Enhance Asset Quality and Financial Flexibility Sale of non-core Barnett Shale and Arkansas assets: Represents another successful step in Diversified's Portfolio Optimization Program ("POP"), which is focused on high-grading the asset base, improving margins, enhancing liquidity, and reallocating capital toward higher-return opportunities. Since the beginning of 2023, Diversified has generated more than $500 million through acreage sales and asset divestitures, demonstrating the value and optionality embedded within our expansive portfolio. These recent transactions further sharpen our operational focus while reinforcing our commitment to disciplined capital allocation. Collectively, we will continue to evaluate and high-grade our assets from our vast portfolio optimization program opportunities that enhance the durability of our business model and support DEC's evolution into a premier U.S. energy producer focused on creating long-term shareholder value. Operations and Finance Update Second Quarter Production The Company recorded exit rate production as of June 30, 2026 of 1,275 MMcfepd (213 Mboepd)(a) and delivered average daily production of 1,253 MMcfepd (209 Mboepd) for the three months ended June 30, 2026. The Company's production volume mix was approximately 71% natural gas, 15% natural gas liquids ("NGLs"), and 14% oil, with approximately 66% of production volumes from the Central region and 34% from Appalachia for the three months ended June 30, 2026. Production for the quarter continued to benefit from Diversified’s peer-leading, shallow decline profile. Year-to-Date Production The Company recorded average daily production of 1,225 MMcfepd (204 Mboepd) for the six months ended June 30, 2026. The Company's production volume mix was approximately 71% natural gas, 15% NGL's, and 14% oil. Second Quarter Margin and Total Cash Expenses per Unit For the three months ended June 30, 2026, Diversified delivered per unit revenues of $4.22/Mcfe(e) ($25.32/Boe) and Adjusted EBITDA Margin(b) of 52%. The Company’s per unit expenses are anticipated to improve as the Company continues to implement its playbook to achieve long-term, sustainable synergies and cost savings. For example, Midstream and Transportation expenses decreased during the three months ended June 30, 2026 compared to prior period levels, supporting our progress on cost savings and synergy capture while also highlighting our ability to profitably add assets due to our scale and existing capabilities. Year-to-Date Margin and Total Cash Expenses per Unit For the six months ended June 30, 2026, Diversified delivered per unit revenues of $4.54/Mcfe(e) ($27.24/Boe) and Adjusted EBITDA Margin((b) of 60%. (1)   Total commodity revenue, including settled derivatives. (2)   Total midstream and other revenue, excluding Next Level Energy revenue. (3)   Proceeds from divestitures represents cash proceeds related to asset optimization (4)   Total revenue and proceeds from divestitures related to asset optimization, excluding Next Level Energy revenue. (5)   Total lease operating expense, excluding Next Level Energy lease operating expense. (6)   Total operating expense, excluding Next Level Energy lease operating expense. (7)   Total employees, administrative costs, and professional fees, excluding Next Level Energy. These costs include payroll and benefits for our administrative and corporate staff, costs of maintaining administrative and corporate offices, costs of managing our production operations, franchise taxes, public company costs, fees for audit and other professional services, and legal compliance. (8)   Adjusted Operating Cost per Unit excludes lease operating expense and employees, administrative costs and professional fees attributable to Next Level Energy. (9)   Adjusted EBITDA Margin represents Adjusted EBITDA as a percent of Total Revenue, Inclusive of derivatives settled in cash Share Repurchase Program 2Q26 (through August 5, 2026): Repurchased 1,563,389(f) shares, representing ~2% of shares outstanding YTD (through August 5, 2026): Repurchased 6,596,753(f) shares, representing ~9% of shares outstanding Updated 2026 Outlook The Company is providing an update to its previously announced Full Year 2026 guidance. Following the recently completed acquisitions and divestitures, Diversified expects to realize continued significant operational synergies associated with a larger, consolidated position in Oklahoma. With the recently closed Camino transaction and associated minority ownership in the Special Purpose Vehicle ("SPV"), the Company will guide to the Income from equity affiliates, based upon equity method accounting treatment, to better model EBITDA and Free Cash Flow. Additionally, the Company intends to expand its capital expenditure program to include an operated development program beginning in the second half of 2026, with the expectation of a material impact on production results in 2027. The Company will continue to provide cash generation from its portfolio optimization program and continue to improve the overall cost structure of its established producing assets while prioritizing returns and Free Cash Flow generation. The updated guidance metrics for the Full Year 2026 are outlined in the table below: (1)   Includes an estimate of cash proceeds for FY 2026 asset optimization of ~$135 million; based on July 2026 strip prices. Excludes changes in cash from working capital. The Company includes Adjusted EBITDA and Adjusted Free Cash Flow in the Company’s Full Year 2026 Outlook. Adjusted EBITDA and Adjusted Free Cash Flow are non-GAAP financial measures and have not been reconciled to the most comparable GAAP financial measures because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management’s control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide an outlook for the comparable GAAP measures. (2)   Income from equity affiliates included in Adjusted EBITDA and Adjusted Free Cash Flow Conference Call Details The Company will host a conference call Thursday, August 6, 2026, at 8:30 AM ET to discuss the second quarter 2026 results and will make an audio replay of the event available shortly thereafter. Footnotes: For Company-specific items, refer also to the Glossary of Terms found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the United States Securities and Exchange Commission and available on the Company’s website. For further information, please contact: About Diversified Energy Company Diversified is a leading publicly traded energy company focused on acquiring, operating, and optimizing cash generating energy assets. Through our unique differentiated strategy, we acquire established assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value. Forward-Looking Statements This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations, business and outlook of the Company and its wholly owned subsidiaries. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. These forward-looking statements, which contain the words “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “will”, “seek”, “continue”, “aim”, “target”, “projected”, “plan”, “goal”, “achieve”, “guidance”, "outlook" and words of similar meaning, reflect the Company’s beliefs and expectations and are based on numerous assumptions regarding the Company’s present and future business strategies and the environment the Company will operate in and are subject to risks and uncertainties that may cause actual results to differ materially. No representation is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company’s ability to control or estimate precisely, such as general economic and business conditions, the behavior of other market participants, industry trends, competition, commodity prices, changes in regulation, currency fluctuations, our ability to recover our reserves, our ability to successfully integrate acquisitions, future dispositions our ability to obtain financing to meet liquidity needs, changes in our business strategy, and political and economic uncertainty. The list above is not exhaustive and there are other factors that may cause the Company’s actual results to differ materially from the forward-looking statements contained in this announcement, including the risk factors described in the “Risk Factors” section in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the United States Securities and Exchange Commission ("SEC") and in subsequent filings with the SEC. Forward-looking statements speak only as of their date and neither the Company nor any of its respective directors, officers, employees, agents, affiliates or advisers expressly disclaim any obligation to supplement, amend, update or revise any of the forward-looking statements made herein, except where it would be required to do so under applicable law. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements in this announcement, may not occur. As a result, you are cautioned not to place undue reliance on such forward-looking statements. Past performance of the Company cannot be relied on as a guide to future performance. No statement in this announcement is intended as a profit forecast or a profit estimate and no statement in this announcement should be interpreted to mean that the financial performance of the Company for the current or future financial years would necessarily match or exceed the historical results published for the Company. Use of Non-GAAP Measures Certain key operating metrics that are not defined under GAAP ("non-GAAP" measures) are included in this announcement. These non-GAAP measures are used by us to monitor the underlying business performance of the Company from period to period and to facilitate comparison with our peers. Since not all companies calculate these or other non-GAAP metrics in the same way, the manner in which we have chosen to calculate the non-GAAP metrics presented herein may not be compatible with similarly defined terms used by other companies. The non-GAAP metrics should not be considered in isolation of, or viewed as substitutes for, the financial information prepared in accordance with GAAP. Certain of the key operating metrics are based on information derived from our regularly maintained records and accounting and operating systems. Adjusted EBITDA & Pro Forma Adjusted EBITDA As used herein, EBITDA represents earnings before interest, taxes, depletion, depreciation and amortization. Adjusted EBITDA includes adjustments for items that are not comparable period-over-period, namely, finance costs, accretion of asset retirement obligation, other (income) expense, (gain) loss on fair value adjustments of unsettled financial instruments, (gain) loss on natural gas and oil property and equipment, (gain) loss on sale of equity interest, unrealized (gain) loss on investment, costs associated with acquisitions, other adjusting costs, loss on early retirement of debt, non-cash equity compensation, (gain) loss on interest rate swaps, and items of a similar nature. Adjusted EBITDA and pro forma adjusted EBITDA should not be considered in isolation or as a substitute for operating profit or loss, net income or loss, or cash flows provided by operating, investing and financing activities. However, we believe such measure is useful to an investor in evaluating our financial performance because it (1) is widely used by investors in the natural gas and oil industry as an indicator of underlying business performance; (2) helps investors to more meaningfully evaluate and compare the results of our operations from period to period by removing the often-volatile revenue impact of changes in the fair value of derivative instruments prior to settlement; (3) is used in the calculation of a key metric in one of our Credit Facility financial covenants; and (4) is used by us as a performance measure in determining executive compensation. When evaluating this measure, we believe investors also commonly find it useful to evaluate this metric as a percentage of our total revenue, inclusive of settled hedges, producing what we refer to as our adjusted EBITDA margin. The following table presents a reconciliation of the GAAP financial measure of net income (loss) to the non-GAAP measure of adjusted EBITDA for each of the periods listed: (1)   Excludes $0.1M, $0.4M, $0.2M and $0.6M in dividend distributions received for our investment in DP Lion Equity Holdco during the three months ended June 30, 2026 and June 30, 2025 and the six months ended June 30, 2026 and June 30, 2025, respectively. (2)   Includes $25M, $68M, $126M and $70M in cash proceeds received for leasehold sales during the three months ended June 30, 2026 and June 30, 2025 and the six months ended June 30, 2026 and June 30, 2025, respectively. (3)   Other adjusting costs for the three months ended June 30, 2026 and June 30, 2025 and the six months ended June 30, 2026 and June 30, 2025 were primarily associated with one-time personnel-related expenses, asset integration, and legal fees from certain litigation. (4)   Pro forma TTM adjusted EBITDA includes adjustments for the respective periods to pro forma results for the full twelve month impact of intra-period acquisitions and divestitures (June 30, 2026: Canvas acquisition, Sheridan acquisition, Barnett asset sale, and the divestiture of other various property, plant, and equipment; June 30, 2025: Crescent Pass, East Texas II, Summit and Maverick). Net Debt & Net Debt-to-Pro Forma Adjusted EBITDA As used herein, net debt represents total debt as recognized on the balance sheet less cash and restricted cash. Total debt includes our borrowings under the Credit Facility, borrowings under or issuances of, as applicable, our subsidiaries’ securitization facilities, and other borrowings. We believe net debt is a useful indicator of our leverage and capital structure. As used herein, net debt-to-pro forma adjusted EBITDA, or “leverage” or “leverage ratio,” is measured as net debt divided by pro forma adjusted EBITDA. We believe that this metric is a key measure of our financial liquidity and flexibility and is used in the calculation of a key metric in one of our Credit Facility financial covenants. The following table presents a reconciliation of the GAAP financial measure of total debt to the non-GAAP measure of net debt and a calculation of net debt-to-pro forma adjusted EBITDA for each of the periods listed: (1)   Includes adjustments for deferred financing costs and original issue discounts, consistent with presentation on the statement of financial position. (2)   Pro forma TTM adjusted EBITDA includes adjustments for the respective periods to pro forma results for the full twelve month impact of intra-period acquisitions and divestitures (June 30, 2026: Canvas acquisition, Sheridan acquisition, Barnett asset sale, and the divestiture of other various property, plant, and equipment; June 30, 2025: Crescent Pass, East Texas II, Summit and Maverick). (3)   Does not include adjustments for working capital which are often customary in the market. Free Cash Flow & Adjusted Free Cash Flow As used herein, free cash flow represents net cash provided by operating activities ("operating cash flow"), less expenditures on natural gas and oil properties and equipment and adjusted free cash flow represents free cash flow after adjusting for proceeds from divestitures related to asset optimization and changes in cash from working capital. We believe that free cash flow and adjusted free cash flow are useful indicators of our ability to generate cash that is available for activities beyond capital expenditures. We believe that free cash flow and adjusted free cash flow provide investors with an important perspective on the cash available to service debt obligations, make strategic acquisitions and investments, and pay dividends. The following table presents a reconciliation of the GAAP financial measure of operating cash flow to the non-GAAP measure of free cash flow and adjusted free cash flow for each of the periods listed: Total Revenue, Excluding (Gain) Loss on Fair Value Adjustments of Unsettled Derivatives & Adjusted EBITDA Margin As used herein, total revenue, excluding (gain) loss on fair value adjustments of unsettled derivatives, represents total revenue less (gain) loss on fair value adjustments of unsettled derivatives. We believe that total revenue, excluding (gain) loss on fair value adjustments of unsettled derivatives, is useful because it enables investors to discern our realized revenue after adjusting for derivative settlements. As used herein, adjusted EBITDA margin is measured as adjusted EBITDA, as a percentage of total revenue, excluding (gain) loss on fair value adjustments of unsettled derivatives. Adjusted EBITDA margin encompasses the direct operating costs and the portion of general and administrative costs required to produce each Mcfe. This metric includes operating expense, employee costs, administrative costs and professional services, and recurring allowance for credit losses, which cover both fixed and variable cost components. We believe that adjusted EBITDA margin is a useful measure of our profitability and efficiency, as well as our earnings quality, because it evaluates the Company on a more comparable basis period-over-period, especially given our frequent involvement in transactions that are not comparable between periods. The following table presents a reconciliation of the GAAP financial measure of total commodity revenue to the non-GAAP measure of total revenue, excluding (gain) loss on fair value adjustments of unsettled derivatives, and a calculation of adjusted EBITDA margin for each of the periods listed:

Diversified Energy Company DEC is set to release second-quarter 2026results on Aug. 5. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a profit of 20 cents per share on revenues of $492.5 million. Let’s delve into the factors that might have influenced the oil and gas firm’s performance in the June quarter. But it’s worth taking a look at Diversified Energy’s previous-quarter results first. In the last reported quarter, the Birmingham, AL-based company, which acquires, operates and improves established U.S. oil and gas assets, beat the consensus mark on operational excellence and portfolio optimization gains. Diversified Energy had reported adjusted earnings per share of $2.05, which surpassed the Zacks Consensus Estimate by 1.5%. Sales of $27.1 million also beat the consensus mark by 81%. Diversified Energy Company PLC price-eps-surprise | Diversified Energy Company PLC Quote Diversified Energy's second-quarter 2026 results were likely supported by its expanding Portfolio Optimization Program, which continued unlocking cash beyond core production. In the first quarter, the company generated roughly $101 million through optimization initiatives, including acreage monetizations, while management highlighted additional opportunities from non-operated development, environmental credits and asset sales. The program had already produced more than $400 million since early 2023, suggesting these cash-generating initiatives could have continued boosting profitability and free cash flow during the second quarter as more assets were optimized. Operational momentum likely remained a tailwind in the second quarter. Management reaffirmed 2026 adjusted EBITDA guidance of $925-$975 million and expected about $430 million in adjusted free cash flow despite weather-related disruptions in the first quarter. March production exited at approximately 1.23 billion cubic feet equivalent per day, aligning with guidance, while debt reduction of $92 million lowered leverage to 2.2X, comfortably within the target range. Continued balance-sheet improvement, strong liquidity of about $529 million and disciplined capital allocation likely positioned the company to sustain healthy earnings and cash generation in the to-be-reported quarter. Although the Camino acquisition strengthened Diversified's long-term outlook, it was unlikely to provide a meaningful earnings contribution in the second quarter. Management stated that the $1.2 billion transaction is expected to close in the third quarter of 2026, subject to customary conditions, and confirmed that neither the Camino acquisition nor the recently completed Sheridan deal was fully incorporated into full-year guidance. As a result, investors were unlikely to see the expected production growth, synergies and cash flow benefits from Camino reflected in second-quarter earnings. The proven Zacks model does not conclusively show that Diversified Energy is likely to beat estimates in the second quarter of 2026. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. Earnings ESP: DEC has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 20 cents per share each. Zacks Rank: Diversified Energy currently carries a Zacks Rank #3, which increases the predictive power of ESP. However, the company’s 0.00% ESP makes surprise prediction difficult this earnings season. While an earnings beat looks uncertain for Diversified Energy, here are some firms from the energyspace that you may want to consider based on our model: Devon Energy DVN: It has an Earnings ESP of +0.61% and a Zacks Rank #3.Devon Energy is scheduled to release earnings on Aug. 4. You can see the complete list of today’s Zacks #1 Rank stocks here. For 2026, Devon Energy has a projected earnings growth rate of 18.4%. Valued at around $27.6 billion, it has gained 37.4% in a year. Excelerate Energy EE: It has an Earnings ESP of +11.04% and a Zacks Rank #3.Excelerate Energy is scheduled to release earnings on Aug. 5. For 2026, Excelerate Energy has a projected earnings growth rate of 18.8%. Valued at around $4.2 billion, it has gained 49.5% in a year. Helmerich & Payne HP: It has an Earnings ESP of +2.08% and a Zacks Rank #3.Helmerich & Payne is scheduled to release earnings on Aug. 5. Helmerich & Payne’s expected EPS growth rate for three to five years is currently 27.5%, which compares favorably with the industry's growth rate of 19.1%. Valued at around $3.3 billion, it has gained 115.6% in a year. Teaser: DEC's Q2 results may reflect portfolio optimization, steady production and lower debt, while Camino benefits remain out of reach. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Diversified Energy Company PLC (DEC) : Free Stock Analysis Report Devon Energy Corporation (DVN) : Free Stock Analysis Report Helmerich & Payne, Inc. (HP) : Free Stock Analysis Report Excelerate Energy, Inc. (EE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

ENGLEWOOD, Colo., July 22, 2026 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) today announced it will host a conference call at 4:30 p.m. ET on August 6 to report its financial results for the second quarter ended June 30. To participate in the live call, please register through the following event weblink: https://registrations.events/direct/Q4I702120 To listen to the conference call (audio only, non-participating), please register through the following event weblink: https://events.q4inc.com/attendee/341485152 A webcast replay will be available after the conference call ends on August 6. The archived webcast will be available in the Investor Relations section of Gevo's website at investors.gevo.com. About Gevo Gevo is a next-generation diversified energy company committed to fueling America’s future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Gevo’s innovative technology can be used to make a variety of renewable products, including sustainable aviation fuel (SAF), motor fuels, chemicals, and other materials that provide U.S.-made solutions. Gevo’s business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates an ethanol plant with an adjacent carbon capture and storage (CCS) facility and Class VI carbon-storage well. Gevo also owns and operates one of the largest dairy-based renewable natural gas (RNG) facilities in the United States, turning by-products into clean, reliable energy. Additionally, Gevo developed the world’s first production facility for specialty alcohol-to-jet (ATJ) fuels and chemicals operating since 2012. Gevo is currently developing the world’s first large-scale ATJ facility to be co-located at our North Dakota site. Gevo’s market-driven “pay-for-performance” approach regarding carbon and other sustainability attributes helps deliver value to our local economies. Through its Verity subsidiary, Gevo provides transparency, accountability, and efficiency in tracking, measuring, and verifying various attributes throughout the supply chain. By strengthening rural economies, Gevo is working to secure a self-sufficient future and to make sure value is brought to the market. For more information, see www.gevo.com. MEDIA [email protected] IR [email protected]

With a market cap of $27.6 billion, FirstEnergy Corp. (FE) is a diversified energy company that generates, transmits, and distributes electricity through its subsidiaries across the United States. Operating through its Distribution, Integrated, and Stand-Alone Transmission segments, the company serves customers in six states with a mix of coal, nuclear, hydroelectric, wind, and solar energy sources. The Akron, Ohio-based company is slated to announce its fiscal Q2 2026 results after the market closes on Wednesday, Jul. 29. Ahead of this event, analysts expect FirstEnergy to report an adjusted Core EPS of $0.56, up 7.7% from $0.52 in the year‑ago quarter. It has exceeded or met Wall Street's earnings expectations in the past four quarters. Broadcom’s Largest AI Customer Is Fleeing to MediaTek. AVGO Stock Is Still a Buy. Mark Cuban Asks What If You Didn’t Need Health Insurance — And Hospitals Just Treated You, Then Took 10% of Your Pay? Nasdaq Futures Plunge as Samsung Sparks Chip Selloff Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. For fiscal 2026, analysts expect the utility company to report adjusted Core EPS of $2.74, a rise of 7.5% from $2.55 in fiscal 2025. Shares of FirstEnergy have soared 21.4% over the past 52 weeks, outperforming the broader S&P 500 Index's ($SPX) 20.7% return and the State Street Utilities Select Sector SPDR ETF's (XLU) 11.5% gain over the same period. FirstEnergy reported Q1 2026 results on Apr. 28, with profit of $405 million, or $0.70 per share, up 12.5% from $360 million, or $0.62 per share, a year earlier, driven by higher electricity rates and growing demand from power-intensive data centers. The company also reported revenue of $4.2 billion, up from $3.7 billion a year earlier, and reaffirmed its 2026 core EPS guidance of $2.62 - $2.82, supported by a $6 billion capital investment plan for 2026 focused on grid modernization, distribution upgrades, and transmission reliability. Additionally, FirstEnergy expanded its 2026 - 2030 capital investment plan to $36 billion, nearly 30% above its previous plan, with the company expecting it to generate about 10% compounded annual rate-base growth. However, the stock fell 1.3% the next day. Analysts' consensus view on FE stock remains cautiously optimistic, with an overall "Moderate Buy" rating. Out of 17 analysts covering the stock, seven recommend a "Strong Buy," one "Moderate Buy," and nine "Holds." The average analyst price target is $52.64, indicating a potential upside of 8.5% from the current levels. On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com