PED

Image source: The Motley Fool. Thursday, Aug. 13, 2026, at 5 p.m. ET Elevate IR-Laurent Weil President and Chief Executive Officer-Doug Schick Chief Operating Officer-R.T. Dukes Chief Financial Officer-Bobby Long Operator: Good afternoon, and welcome to PEDEVCO Corp's Second Quarter 2026 Earnings Conference Call. [Operator Instructions] I would now like to turn the call over to Laurent Weil of Elevate IR. Please go ahead. Laurent Weil: Thank you, operator, and good afternoon, everyone. Welcome to PEDEVCO's Second Quarter 2026 Earnings Call. With me today are Doug Schick, President and Chief Executive Officer; R.T. Dukes, Chief Operating Officer; and Bobby Long, Chief Financial Officer. Before we begin, I'd like to remind everyone that today's discussion includes forward-looking statements within the meaning of the federal securities laws subject to risks and uncertainties that could cause actual results to differ materially from expectations. For more information, please refer to our Second Quarter 2026 Form 10-Q and other SEC filings. The company undertakes no obligation to update or revise any forward-looking statements. During today's call, we will discuss certain non-GAAP financial measures, including adjusted EBITDA and working capital, excluding derivative contract assets and liabilities. Reconciliations to the most directly comparable GAAP measures are available in our earnings release and 10-Q filing. These non-GAAP measures should not be considered in isolation or as a substitute for GAAP results. I would also like to note that all per share and share count figures referenced today reflect the company's 1-for-20 reverse stock split effective March 13, 2026, applied retroactively to all periods presented. As of June 30, 2026, the company had approximately 13.3 million shares of common stock outstanding. Here is today's agenda. Doug will begin with opening remarks, followed by R.T. with an operational update, and then Bobby will walk through our financial performance. After our prepared remarks, the management team will open the call for questions. With that, I will turn it over to Doug. John Schick: Thanks, Laurent, and good afternoon, everyone. Thank you for joining us. We are now halfway through 2026, and the second quarter provides a clear view of the earnings power of the platform we've built through the Juniper merger. Production averaged approximately 6,800 BOE per day. Revenue was $46.1 million and adjusted EBITDA was $18.7 million. Revenue increased more than fivefold year-over-year and approximately 15% sequentially. These results were ahead of our original expectations and reflect the combination of stronger realized oil prices and the expanded production base. To put year-over-year comparisons in perspective, PEDEVCO was a much smaller company in the second quarter of 2025, with no debt and approximately $7 million of quarterly revenue. Today, we operate across three basins, produced more than 618,000 barrels of oil equivalent during the quarter, and generated $46.1 million of revenue. This increase in scale reflects the strategic transaction we made last October to merge with the Juniper portfolio companies, which expanded our footprint to more than 300,000 net acres across the D-J, Powder River, and Permian basins with substantial oil-weighted production and a deep development inventory. We said at the time of the merger we would significantly increase the scale and cash-generating capacity of the company, and the second quarter results demonstrate that progress. Turning to sequential comparisons, it is important to distinguish the impact of price from the impact of volumes. Production declined 16% from the first quarter, consistent with the production expectations we discussed on our last call. The D-J Basin wells that came online in late '25 reached peak production early this year and have since followed their natural decline curves. As a result, the sequential improvement in revenue was driven mostly by oil prices. Our average oil price increased to $94.07 per barrel, up 53% year-over-year, and operating income more than doubled sequentially from $6.7 million to $15.4 million. Higher commodity prices, when sustained, improve the return profile of our inventory, but they do not change our approach. We're not building a plan that depends on elevated commodity prices. Our focus remains on low-cost operations, a strong balance sheet, and deploying capital only where the expected returns justify it. Turning to cost, lease operating expense was essentially flat with the first quarter on an absolute basis. Per unit costs were higher because production declined while absolute costs remained relatively stable. R.T. will discuss the optimization program in more detail, but our focus is on pump conversions, recompletions, well cleanouts, and compression projects that are expected to reduce recurring operating costs going forward. As those savings are realized, we expect them to improve margins and strengthen the cost structure of the business over time. The balance sheet also improved significantly during the quarter. We repaid $13 million of debt under our revolving credit facility, reducing the outstanding balance to $85 million from $98 million at the end of the first quarter. Strong cash generation allowed us to accelerate debt repayment while maintaining cash on hand. Coming out of the merger, we carried a meaningful working capital deficit. That overhang was largely resolved in the first quarter. And in the second quarter, we returned to reducing our funded debt. Adjusting for cash, net debt was approximately $73 million at quarter end. This progress gives us greater flexibility as we evaluate additional development opportunities. With this balance sheet strength and months of asset analysis, permitting and development planning, we are now in a position to consider a more active development program. During the first half of the year, we maintained a measured approach to capital allocation focusing mostly on our production and cost optimization program and directed excess cash toward strengthening the balance sheet. That was the appropriate approach for the business and it produced the results we expected. Our stronger financial position, a more constructive commodity price environment, and the resolution of certain litigation matters in Wyoming now allow us to begin a more active development program for the remainder of the year in early 2027. Over the past several months, we have conducted extensive analysis on our 300,000-plus acre position and have identified actionable, high rate-of-return projects available for near-term development. We have recently completed a previously drilled well in the D-J Basin, and over the next several months we plan to drill and participate in over 20 gross wells across our asset base. We will be announcing the details of this expanded capital program and development plan in the coming weeks. With $36.8 million of adjusted EBITDA generated in the first half, we are reiterating our full year 2026 adjusted EBITDA guidance of $60 million to $70 million. The expanded second half development program is not expected to contribute until late 2026 and early 2027, and our outlook for the balance of the year reflects the production outlook we have discussed previously. More broadly, our capital allocation framework remains straightforward. We will prioritize a strong balance sheet and the operating integrity of the existing asset base. We will then invest in optimization and development projects that meet our return thresholds while preserving the flexibility to pursue acquisitions and leasehold opportunities that strengthen our core positions. The expanded platform gives us more ways to create value, but it does not change the discipline we apply to each and every investment decision. Taken together, we are entering the second half of the year from a stronger position than we expected at the start of 2026. The combined platform is generating meaningful cash flow, the balance sheet is healthy, and we have the flexibility to fund a disciplined development program while maintaining our return thresholds and financial priorities. With that, I will turn it over to R.T. Reagan Dukes: Thanks, Doug, and good afternoon, everyone. I'll keep my remarks focused on how the assets performed this quarter and what we're building toward in the second half before handing it back to Bobby to walk you through the financial results. Second quarter production of 618,912 BOE, or 6,800 BOE per day, was in line with our internal plan. The sequential decline was expected as we highlighted last quarter. As Doug mentioned, the first quarter benefited from the timing of the D-J Basin wells that came online in late '25, and reached peak production early in the year. And those wells have followed their natural decline curve since. Let me walk through our three major basins. In the D-J, we hold approximately, or a little bit over, 88,000 net acres, an interest in 74 gross, almost 67 net operated wells, and 110 gross, 12.5 net non-operated wells. During the quarter, we continued our field optimization program. Our planned first half participation in 10 non-operated wells with working interest ranging from 1.1% to 6.3% were completed in the first quarter. After the quarter ended, we completed the drilled but uncompleted well in Q3, our Hastings well, and we expect it to contribute to third quarter volumes. In connection with the completion, certain nearby wells were temporarily shut in, and we also accelerated several optimization projects into the third quarter. As a result, July production was lower than initially expected, but volumes will improve significantly in August as those wells return to service and the Hastings well begins contributing to our volume. In the Powder River Basin, we hold approximately 202,000 net acres and interest in over 150 gross wells, 130 net wells, of which 16 gross, 1.4 net are non-op. During the quarter, permitting matters did improve in Wyoming through BLM through some litigation that was resolved -- environmental litigation that was resolved with the BLM. That is an important development for us because it's allowed us to permit some of our top tier wells that we plan to develop in the next year or two. And part of that underpins the second half program that Doug described. In the Permian Basin, we hold approximately 14,505 net acres and interest in 38 gross, 34.5 net wells, all of which we operate. The asset continues to provide a stable production base. We remain focused on the operating efficiency and continue to evaluate lift conversions, well interventions, and other optimization opportunities to help improve our cost structure and margins in the basin. Now a word on the optimization program and the progress we're making. Because it is central to our cost structure over time, we have pulled a meaningful portion of our optimization program forward. We initially had much of it spread out over most of the year, but we have pulled that into the summer to beat worse weather in the winter. The trade-off and a little bit of cost sooner in the year for better production and better cost later in the year was deliberate. The pump conversions, recompletions, well cleanouts, and compression projects are designed to lower our per barrel lease operating expense on a recurring basis. When those savings are achieved, they are durable and they show up in LOE every period from here on after. We expect the benefits to build through the back half of the year and be more reflected in our 2027 operating cost run rate. The bottom line on operations is the asset base is performing in line with the plan. Integration continues, and we are now ready to move into an active development program with a balance sheet to support it. Bobby, I'll hand it over to you. Robert Long: Thank you, R.T., and good afternoon, everyone. This second quarter brought together the financial priorities we have emphasized since the merger: stronger earnings, disciplined cost management, and continued balance sheet improvement. Higher realized oil and NGL prices more than offset lower production, while lease operating expenses remained essentially flat on an absolute basis, and we used available cash to accelerate debt repayment. I'll walk through each of those areas, beginning with revenue and operating costs. Starting with our second quarter results, revenue was $46.1 million, up 561% from $7 million in the prior year period, and approximately 15% from the first quarter. The year-over-year increase reflects the contribution from the expanded asset base and higher average realized oil price. Of the $39.1 million increase, $35.8 million was attributable to higher sales volumes and $3.3 million to higher realized pricing. Total operating expenses were approximately $30.8 million, resulting in operating income of $15.4 million. Within that, LOE was $16.4 million and G&A was $3.4 million. LOE was essentially flat with the first quarter on an absolute basis. The year-over-year increase in G&A reflects additional payroll expense associated with the larger company and higher legal and audit costs due to the growth of the company. DD&A was $10.2 million, up $6.3 million year-over-year, driven by higher production and the expanded asset base. We also recorded $2 million of interest expense, consisting of $1.8 million of interest on credit facility borrowings and $0.2 million of amortization of deferred financing costs compared to no interest expense in the prior year period. Below the operating line, the most significant item was $5 million of net income on derivative contracts. As in prior quarters, I want to separate the realized and unrealized components. We recorded $8.1 million of realized settlement losses, which were cash items resulting from realized oil prices exceeding the fixed prices in our contracts. This was more than offset by a $13.1 million non-cash unrealized mark-to-market gain reflecting the declining commodity prices from March 31st to June 30th on our open positions. The $13.1 million unrealized gain is an accounting entry, not a cash inflow. The purpose of our hedge program is to reduce cash flow volatility, protect the capital plan, and maintain financial flexibility. GAAP net income was $17.5 million, or $1.31 per share, compared to a net loss of $1.7 million in the second quarter of 2025, reflecting higher operating income from the expanded asset base and the $5 million recognized on derivative contracts. Adjusted EBITDA was $18.7 million compared to $3 million in the prior year period and $18.1 million in the first quarter. This represents an increase of approximately 3% sequentially. The full reconciliation from net income to adjusted EBITDA is included in our earnings press release. Turning to the balance sheet and capital allocation, at June 30th, we had cash of $12.1 million. During the quarter, we reduced borrowings under our senior secured revolving credit facility to $85 million from $98 million at March 31st, a $13 million repayment. Adjusting for cash, net funded debt was approximately $73 million, better than we had forecasted. We also had $40 million of funding availability under the facility at quarter end. The balance sheet is performing as we expected. We generated more cash than planned and used a portion of the cash to reduce debt faster than planned while maintaining the capital program. This financial flexibility supports the second half development program Doug described earlier. Thank you all for your attention. I will now turn it back to the operator for questions. Operator: [Operator Instructions] Our first question comes from the line of Dave Storms with Stonegate. David Storms: I wanted to start with the development plan. We were still evaluating your 2026 development plan last quarter, obviously added the 20 gross wells into it. Is this just mostly commodity price driven? Are there any other variables that we should be thinking about that drove this? And apologies, I did miss the first half of the call. So apologies if this was already addressed. John Schick: Hey, Dave. This is Doug. Good question. No, it's partially commodity price driven, but really it's more a function of after the merger, we wanted to evaluate and do a deep dive on all of our assets and kind of prioritize what's available for development near term, what the returns are of all of our assets. So we were kind of ranking projects and prioritizing everything based on what's developed, what can be developed over the next six months. So that's kind of how we came up with the development program. It expanded significantly because some of the BLM litigation issues in Wyoming opened up, which brought in a few projects that we didn't have the ability to do earlier in the year. So that's really the reason for the expansion. David Storms: Understood. So then it's fair to say that the development program is maybe biased toward speed at this point. And then maybe before you answer that, if you could maybe compare that competing use of capital with the balance sheet, I know you mentioned in your prepared remarks that you're focused on having a pretty bulletproof balance sheet right now. Just curious as to how you think about its current iteration with regards to that development program. John Schick: Well, so over the first and second quarter, we've been able to get a debt to EBITDA down to about 1x, which is a level we're comfortable at after the merger, I think we came out at about 1.6x and had some negative working capital associated too. That's all been -- that's all really been paid down and taken into account. So now we're at a place where we can really fund our remaining -- our enhanced development program for the remaining portion of the year within cash flow. David Storms: Understood. I appreciate that. And then maybe just one more on the development program, if you don't mind. With those wells planned and then I guess the remaining development program that you'll announce later this year, I guess, what are you seeing as the current bottlenecks? You mentioned the BLM litigation clearing up. Is it still permitting? Is there labor constraints? I guess, what do you see as your biggest hurdles right now? John Schick: It really depends on the basin, right? I mean, so in the Colorado D-J Basin, permitting is the biggest bottleneck. In Wyoming, it's really stips and things like that to where you can only drill at certain times of the year. And in the Permian, we don't have really very many bottlenecks at all. So R.T., do you have any further comment on what would be some of the bottlenecks to development? Reagan Dukes: No, I think you hit the nail on the head. We're getting ahead with permitting now, so we don't really see that being something that slows us down post-2026 with BLM litigation resolved. So I think we're in a really good spot to action the highest priority and highest value wells that we can go develop in our portfolio when we want to, and we've got the balance sheet to do it. David Storms: That's great commentary. R.T., if I could sneak one last question here. Just on the optimization side of things, the LOE improvements that you're seeing, I got to imagine that you wouldn't be doing optimization if you weren't seeing the LOE improvements. Are those improvements better than you were expecting, which is why you're moving some of those projects forward? Or is this to get ahead of any demand that you're seeing in the back half of the year? Maybe just any more color you could add to that. Reagan Dukes: Yes, we've got a great team that's executed really well. We were having great execution success through Q2, and that gave us the confidence to pull some of that forward for the reasons that Doug mentioned as well. We're a lean team that's very effective and very efficient. We're proud of the people that work for us. But we would prefer to knock those out for drilling wells too. So as we knew we had confidence in a development program in the second half of the year, we could pull some of that LOE savings into this year as well, spending a similar amount of dollars across the whole year. So it looks like a win-win to us, not something you delay when you have real confidence in execution. So why spread it out over time when you're having success? Operator: Our next question comes from the line of Nicholas Pope with ROTH Capital. And I'm currently showing no further questions at this time. I will now turn the call back over to J. Douglas Schick for closing remarks. John Schick: Thank you, operator, and thank you everyone for your time and continued interest in PEDEVCO. We look forward to seeing you again. Operator: This concludes today's conference. Thank you for your participation. You may now disconnect. 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Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Second quarter results demonstrate the earnings power of the platform built through the Juniper merger, with revenue increasing more than fivefold year-over-year to $46.1 million. Sequential revenue growth of 15% was driven primarily by higher realized oil prices, which averaged $94.07 per barrel, offsetting a planned 16% production decline as D-J Basin wells reached natural decline curves. Management utilized strong cash generation to accelerate debt repayment, reducing the revolving credit facility balance by $13 million to $85 million during the quarter. The company has transitioned from resolving a post-merger working capital deficit to a position of financial flexibility, achieving a net debt to EBITDA ratio of approximately 1x. Operational focus shifted toward a field optimization program involving pump conversions and compression projects designed to lower recurring per-barrel lease operating expenses. Strategic positioning was bolstered by the resolution of environmental litigation involving the BLM in Wyoming, which has unlocked permitting for top-tier development inventory. Management is initiating a more active development program for late 2026 and early 2027, planning to drill or participate in over 20 gross wells across the asset base. Full-year 2026 adjusted EBITDA guidance is reiterated at $60 million to $70 million, with the expanded development program expected to contribute primarily in 2027. The capital allocation framework prioritizes funding the enhanced development program within existing cash flow while maintaining a disciplined return threshold. Optimization project benefits are expected to build through the second half of 2026, with the full impact on operating cost run rates realized in 2027. Development timing in Wyoming remains subject to seasonal stipulations, while D-J Basin activity continues to be managed against permitting timelines. Reported a $13.1 million non-cash unrealized mark-to-market gain on derivative contracts due to declining commodity prices between March and June. Realized hedge settlement losses totaled $8.1 million as market prices exceeded fixed contract prices, reflecting the program's role in reducing cash flow volatility. Lease operating expenses remained flat on an absolute basis but increased on a per-unit basis due to the sequential decline in production volumes. A 1-for-20 reverse stock split became effective March 13, 2026, with all share and per-share figures adjusted retroactively. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management clarified the expansion is less about commodity prices and more about the completion of a deep-dive asset evaluation and the resolution of BLM litigation in Wyoming. The clearing of environmental legal hurdles allowed the company to include high-return projects that were previously inaccessible for near-term development. Management confirmed that after reducing leverage from 1.6x to 1.0x net debt to EBITDA, they are now comfortable funding the expanded program entirely through organic cash flow. The company aims to maintain a 'bulletproof' balance sheet while pursuing high-rate-of-return projects identified during the post-merger analysis. Optimization projects were pulled forward into the summer to avoid winter weather execution risks and to clear the schedule for upcoming drilling activity. Management expressed high confidence in the execution team, opting to capture durable LOE savings sooner rather than spreading the spend across the full year.

This article first appeared on GuruFocus. Release Date: August 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. PEDEVCO Corp (PED) reported a significant revenue increase of 561% year-over-year to $46.1 million, driven by the expanded asset base from the Juniper merger. Adjusted EBITDA reached $18.7 million in Q2 2026, up from $3 million in the prior year period, demonstrating strong cash-generating capacity. The company reduced its debt by $13 million during the quarter, bringing net funded debt to approximately $73 million and improving its balance sheet flexibility. Resolution of BLM litigation in Wyoming has unlocked permitting for top-tier wells, enabling a more active development program of over 20 gross wells in the second half. Management is executing a cost optimization program (pump conversions, recompletions, clean-outs) expected to deliver durable reductions in lease operating expenses. The company maintains a disciplined capital allocation framework, prioritizing a strong balance sheet and only investing in projects that meet return thresholds. Production declined 16% sequentially from Q1 2026, as DJ Basin wells followed their natural decline curves after peaking early in the year. Lease operating expenses remained flat on an absolute basis, causing per-unit costs to rise due to the lower production volumes. The company recorded $8.1 million in realized settlement losses on derivative contracts, a cash outflow due to oil prices exceeding fixed hedge prices. July production was lower than initially expected due to temporary well shut-ins and accelerated optimization projects, impacting near-term volumes. G&A expenses increased year-over-year due to higher payroll, legal, and audit costs associated with the larger post-merger company. The expanded development program will not contribute to production until late 2026 and early 2027, limiting near-term output growth. Warning! GuruFocus has detected 4 Warning Signs with PED. Is PED fairly valued? Test your thesis with our free DCF calculator. Q: What drove the expansion of the 2026 development plan to over 20 gross wells, and is it primarily commodity price driven? A: Doug Chick (President and CEO) explained that the expansion is only partially commodity price driven. The primary reason is that after the merger, the company conducted a deep dive on all its assets to prioritize near-term development opportunities and rank projects based on returns. The resolution of BLM litigation issues in Wyoming opened up additional projects that were previously unavailable, which significantly expanded the development program. Q: How does the current balance sheet support the new development program, and how are you thinking about capital allocation between development and debt repayment? A: Doug Chick (President and CEO) stated that the company has successfully reduced debt-to-EBITDA to approximately 1.0 times, down from 1.6 times post-merger, and has resolved the working capital deficit. This strengthened financial position allows the company to fund the enhanced development program for the remainder of the year entirely within cash flow. Q: What are the current bottlenecks or constraints for the development program across your different basins? A: Doug Chick (President and CEO) noted that bottlenecks vary by basin. In the Colorado DJ Basin, permitting is the biggest constraint. In Wyoming, seasonal restrictions (e.g., "steps") limit drilling to certain times of the year. In the Permian Basin, there are very few bottlenecks. R.T. Dukes (COO) added that the company is getting ahead of permitting now, and with BLM litigation resolved, they are well-positioned to execute on their highest-priority wells. Q: Are the LOE improvements from the optimization program better than expected, prompting you to pull projects forward, or is this to get ahead of demand in the back half of the year? A: R.T. Dukes (COO) explained that the team has had great execution success through Q2, which gave them confidence to pull optimization projects forward. The decision was also strategic: as they gained confidence in the second-half development program, they chose to spend a similar amount of dollars across the year but realize the LOE savings sooner. This approach is a "win-win" as it avoids delaying projects when execution is going well. Q: Can you provide more detail on the second quarter financial results, particularly the drivers of revenue growth and the impact of hedging? A: Bobby Long (CFO) reported revenue of $46.1 million, up 561% year-over-year, driven by $35.8 million from higher sales volumes and $3.3 million from higher realized pricing. The company recorded $8.1 million in realized settlement losses on derivatives (a cash item) offset by a $13.1 million non-cash unrealized mark-to-market gain. GAAP net income was $17.5 million, or $1.31 per share, and adjusted EBITDA was $18.7 million. Q: What is the status of the balance sheet and debt repayment in the second quarter? A: Bobby Long (CFO) stated that the company ended the quarter with $12.1 million in cash and reduced borrowings under its credit facility to $85 million from $98 million at the end of Q1, a $13 million repayment. Net funded debt was approximately $73 million, better than forecasted, and the company had $40 million of funding availability. The balance sheet is performing as expected, allowing for faster debt reduction while maintaining the capital program. Q: How did production perform in the second quarter, and what is the outlook for the third quarter? A: R.T. Dukes (COO) reported Q2 production of 618,912 BOE (6,800 BOE per day), in line with internal plans. The sequential decline was expected due to natural decline curves from DJ Basin wells that peaked early in the year. In Q3, the company completed the Hastings well (a drilled but uncompleted well), but July production was lower than expected due to temporary shut-ins of nearby wells and accelerated optimization projects. Volumes are expected to improve significantly in August as wells return to service and Hastings contributes. Q: What is the company's full-year 2026 guidance, and how does the second-half development program factor into it? A: Doug Chick (President and CEO) reiterated full-year 2026 adjusted EBITDA guidance of $60 million to $70 million, with $36.8 million generated in the first half. The expanded second-half development program is not expected to contribute to production until late 2026 and early 2027, so the guidance reflects the previously discussed production outlook for the balance of the year. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Pedevco Corp.? Here are five stocks we like better. Second-quarter results benefited from the Juniper merger: Production averaged approximately 6,800 BOE per day, revenue reached $46.1 million and adjusted EBITDA rose to $18.7 million. Net income was $17.5 million, compared with a $1.7 million loss a year earlier. Production fell sequentially but is expected to rebound: Output declined 16% due to natural D-J Basin well declines and temporary shut-ins related to the Hastings completion. Management expects volumes to improve in August, while optimization projects target recurring operating-cost reductions. Pedevco is reducing debt while expanding development: The company repaid $13 million of revolver borrowings, lowering debt to $85 million, and plans to drill or participate in more than 20 gross wells. It maintained 2026 adjusted EBITDA guidance of $60 million to $70 million, with most new-program contributions expected in late 2026 and 2027. Pedevco (NYSEAMERICAN:PED) reported second-quarter 2026 results that reflected the larger production base acquired through its merger with the Juniper portfolio companies, while management highlighted debt reduction, operating-cost optimization and plans for a more active development program in the second half of the year. President and Chief Executive Officer Doug Schick said production averaged approximately 6,800 barrels of oil equivalent per day during the quarter, totaling 618,912 BOE. Revenue reached $46.1 million and adjusted EBITDA was $18.7 million. Revenue increased more than fivefold from the prior-year period and about 15% from the first quarter, according to the company. → Lumentum Just Delivered the AI Growth Investors Wanted Schick said the year-over-year change reflects both the expanded asset base and higher realized oil prices following the October merger. The company now operates across the D-J, Powder River and Permian basins, with more than 300,000 net acres. Production declined 16% sequentially, which management said was consistent with its prior outlook. Schick attributed the decline to natural production declines from D-J Basin wells that began producing in late 2025 and reached peak output early this year. → Ryman Checks Into a $1.38B Hospitality Upgrade Despite the lower production, revenue increased sequentially primarily because of oil prices. The company’s average realized oil price rose to $94.70 per barrel, up 53% from a year earlier. Operating income more than doubled sequentially to $15.4 million from $6.7 million. Chief Operating Officer Reagan Dukes said D-J Basin production was affected in July by the completion of the Hastings well, which required certain nearby wells to be temporarily shut in. The company also accelerated several optimization projects into the third quarter. Dukes said volumes are expected to improve significantly in August as shut-in wells return to service and Hastings begins contributing to production. → Joby’s Defense Pivot Accelerates With $500M Resonant Sciences Deal In the Powder River Basin, Dukes said permitting conditions improved after environmental litigation involving the Bureau of Land Management was resolved. The development allows the company to permit certain top-tier wells it intends to develop over the next one to two years. Lease operating expense was $16.4 million in the second quarter, essentially flat from the first quarter in absolute terms. Per-unit costs increased because production declined while overall costs remained relatively stable. Management said it has accelerated an optimization program involving pump conversions, recompletions, well cleanouts and compression projects. Dukes said the work was pulled forward into the summer partly to avoid more difficult winter conditions and to achieve recurring operating-cost reductions sooner. “The pump conversions, recompletions, well cleanouts, and compression projects are designed to lower our per-barrel lease operating expense on a recurring basis,” Dukes said. He added that the benefits are expected to build through the second half and be more apparent in the company’s 2027 operating-cost run rate. Chief Financial Officer Bobby Long said the company repaid $13 million under its senior secured revolving credit facility during the quarter, reducing borrowings to $85 million as of June 30 from $98 million at the end of the first quarter. Pedevco ended the quarter with $12.1 million in cash, net funded debt of about $73 million and $40 million of remaining availability under the facility. Schick said the company’s debt-to-EBITDA ratio had declined to about 1x, compared with approximately 1.6x following the merger. He said Pedevco believes it can fund its enhanced development program for the remainder of 2026 through cash flow. The company recently completed a previously drilled D-J Basin well and plans to drill and participate in more than 20 gross wells across its asset base over the coming months. Management said it expects to announce further details of the capital program and development plan in the coming weeks. Schick said the expanded program was not driven solely by commodity prices. Instead, it followed a review of the combined asset base and the availability of projects for near-term development. The resolution of permitting-related litigation in Wyoming also added projects that were not available earlier in the year. During the question-and-answer session, Schick identified permitting as the principal development bottleneck in Colorado’s D-J Basin, while Wyoming projects face timing stipulations governing when drilling may occur. He said the company sees few significant bottlenecks in the Permian Basin. Pedevco reported GAAP net income of $17.5 million, or $1.31 per share, compared with a net loss of $1.7 million in the second quarter of 2025. The quarter included $5 million of net income on derivative contracts, consisting of $8.1 million in realized settlement losses and a $13.1 million non-cash unrealized mark-to-market gain. Long said adjusted EBITDA increased to $18.7 million from $18.1 million in the first quarter and $3 million a year earlier. For the first half, adjusted EBITDA totaled $36.8 million. The company reiterated its full-year 2026 adjusted EBITDA guidance of $60 million to $70 million. Management said the expanded development program is not expected to materially contribute until late 2026 and early 2027. Pedevco Corp is an independent oil and gas exploration and production company incorporated in Delaware and listed on the NYSE American under the ticker symbol PED. The firm focuses on acquiring, developing and producing hydrocarbon assets, with a strategic emphasis on shallow water and onshore properties in Trinidad and Tobago. Since its listing, Pedevco has pursued opportunities to expand reserves through targeted exploration and development projects in one of the Caribbean's most prolific hydrocarbon-producing regions. The company's portfolio centers on two primary concession areas in Trinidad and Tobago: the O-55 shallow water offshore block and the onshore Block 3(a) license. 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 "Pedevco Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Revenue and Net Income Increase QoQ and YoY Adjusted EBITDA of $18.7 Million for the Quarter Enhanced Development Plan Expected to Drive Future Growth HOUSTON, Aug. 13, 2026 (GLOBE NEWSWIRE) -- PEDEVCO Corp. (NYSE American: PED) (“PEDEVCO” or the “Company”), a publicly traded energy company engaged in the acquisition and development of strategic oil and gas assets in the Rocky Mountain region, today reported unaudited financial results for the second quarter ended June 30, 2026. Financial & Operational Highlights (1) Adjusted EBITDA is a non-GAAP financial measure. See “Use of Non-GAAP Financial Information” and the reconciliation table at the end of this release. Note that the Company’s prior earnings release for the quarter ended March 31, 2026 excluded realized losses on derivative contracts from its calculation of Adjusted EBITDA. Commencing with the quarter ended June 30, 2026, the Company includes such realized losses in its calculation of Adjusted EBITDA, and the first quarter 2026 amount presented above has been recast on that same basis for comparative purposes. Adjusted EBITDA for the quarter ended March 31, 2026 was $21.5 million as previously reported and is $18.1 million as recast.(2) “NM” means “Not Meaningful.” Second quarter 2026 production increased 348% to 618,912 Boe (average 6,801 Boe/d), compared to 138,028 Boe (1,517 Boe/d) in the second quarter of 2025, reflecting the contribution from the asset base acquired in the Q4 2025 merger along with production added from the 2025 development plan. Oil and gas revenue increased 561% to $46.1 million, compared to $7.0 million in the prior year period, driven by significantly higher production volumes and a higher average realized oil price. Second quarter 2026 net income of $17.5 million or $1.31 per common share, compared to a net loss of $1.7 million or $(0.37) per share in the second quarter of 2025, reflecting higher operating income from the expanded asset base and $5.0 million of net income on derivative contracts. Adjusted EBITDA increased 516% to $18.7 million, compared to $3.0 million in the second quarter of 2025, reflecting higher production volumes from the expanded asset base and a higher average realized oil price. Development program commenced with recent completion of a previously-drilled well in the DJ Basin. Further development of the Company’s extensive drilling inventory is expected to generate significant future production and cash flow growth, while maintaining focus on low leverage and balance sheet strength. Management Commentary J. Douglas Schick, President and Chief Executive Officer of PEDEVCO, commented: “Our second quarter results demonstrate the earnings power of the platform we’ve assembled. Oil prices were constructive in the quarter, but the durable story is scale — a larger, more diversified asset base with materially greater cash-generating capacity, now translating into financial performance and balance sheet strength ahead of our original expectations. We reduced borrowings under our credit facility from $98 million at March 31, 2026 to $85 million at June 30, 2026, and over the first half of the year cut our working capital deficit, excluding hedge mark-to-market, by approximately $25 million. With approximately $12.1 million of cash and restricted cash at quarter end, net debt stood at approximately $73 million(3). On the strength of $36.8 million of Adjusted EBITDA in the first half of the year and a strong balance sheet, we plan to execute our 2nd half 2026 development plan we have been working on since the closing of our October 2025 merger.” "Over the past several months, we have conducted extensive analysis on our hundreds of thousands of acres, and we are now putting that capacity to work. We have recently completed a previously-drilled well in the DJ Basin, and over the next several months, we plan to drill or participate in over 20 gross wells across our asset base. We expect this program to add a material amount of production in late 2026 continuing into 2027. This is a disciplined program built to grow production and cash flow while preserving a strong balance sheet and creating long-term value for our shareholders." (3) Net debt is a non-GAAP measure representing total debt outstanding under the Company’s Senior Secured Revolving Credit Facility ($85.0 million at June 30, 2026) less cash and restricted cash ($12.1 million) as of the same date. Net debt is not a measure of liquidity or performance calculated in accordance with GAAP, has no standardized meaning, and may not be comparable to similarly titled measures used by other companies. Second Quarter Financial Summary Revenue. Total crude oil, natural gas and NGL revenues for the three-month period ended June 30, 2026 increased 561% to $46.1 million, compared to $7.0 million for the prior year period. The increase was primarily driven by higher production volumes reflecting the consolidation of the assets acquired in the October 2025 merger with certain portfolio companies controlled by Juniper Capital Advisors, L.P. (the “Juniper Merger”), together with a higher average realized oil price. Of the $39.1 million increase, $35.8 million was attributable to higher sales volumes and $3.3 million to higher realized pricing. Lease Operating Expenses. Lease operating costs were $16.4 million for the second quarter of 2026, compared to $2.8 million for the prior year period, primarily as a result of operating costs from the acquired assets, compared to no contribution from those assets in the prior year period, as the Juniper Merger closed on October 31, 2025. General and Administrative Expenses. Total G&A expenses (including share-based compensation) increased 101% to $3.4 million, compared to $1.7 million for the prior year period, primarily due to additional payroll expenses associated with the Juniper Merger and higher legal and audit fees due to the growth of the Company. Depreciation, Depletion, Amortization and Accretion. DD&A increased by $6.3 million to $10.2 million for the three months ended June 30, 2026, compared to the prior year period, driven by higher production volumes and a significantly expanded asset base following the Juniper Merger. Net Income (Loss) on Derivative Contracts. The Company recognized net income of $5.0 million on its derivative contracts. Although the Company recorded $8.1 million in realized settlement losses during the three months ended June 30, 2026, these settlement losses were more than offset by a non-cash unrealized gain on derivative contracts of $13.1 million, primarily due to the decrease in commodity pricing from March 31, 2026 to June 30, 2026 related to unsettled periods. Interest Expense. The Company incurred $2.0 million of interest expense, consisting of $1.8 million in interest on borrowings under its credit facility and $0.2 million in amortization of deferred financing costs, compared to no interest expense in the prior year period as the Company carried no debt prior to the Juniper Merger. Net Income (Loss). The Company reported net income of $17.5 million or $1.31 per common share for the three months ended June 30, 2026, compared to a net loss of $1.7 million or $(0.37) per share for the prior year period, primarily reflecting higher operating income and $5.0 million of net income on derivative contracts. Adjusted EBITDA. Adjusted EBITDA was $18.7 million for the three months ended June 30, 2026, compared to $3.0 million in the prior year period, reflecting a significant increase driven by higher production volumes from the assets acquired in the Juniper Merger and a higher average realized oil price. Production and Realized Price Summary Operational Update Second quarter 2026 production of 618,912 Boe, or 6,801 Boe/d, was in line with the Company’s internal plan. On a sequential basis, production declined as expected (16% quarter on quarter), as the first quarter benefited from the timing of the D-J Basin wells brought online in late 2025. During the quarter, the Company continued to identify cost savings and operational efficiencies across its asset base, which the Company expects will support continued performance through the balance of the year. D-J Basin. The Company holds approximately 88,605 net acres and holds interests in 74 gross (66.9 net) operated wells and 110 gross (12.5 net) non-operated wells in the D-J Basin. During the second quarter, the Company continued to advance its field optimization program and completed its planned first-half participation in 10 non-operated wells with working interests ranging from 1.1% to 6.3%. Following quarter-end, the Company completed its previously disclosed D-J Basin DUC, the Hastings well, with first production expected in early August. Certain nearby wells were temporarily shut-in during completion operations, and the Company also accelerated several optimization projects into the third quarter. As a result, production is expected to be lower in July before improving as affected wells return to service and the Hastings well begins contributing. Powder River Basin (“PRB”). The Company holds approximately 202,100 net acres and holds interests in 156 gross (135.4 net) wells in the PRB, of which 16 gross (1.4 net) are non-operated. During the quarter, certain permitting-related matters affecting Wyoming acreage were resolved, improving the Company’s ability to advance portions of the asset toward development. Production in the area is stable and provides a strong base for growth from development of our properties in 2026 and beyond. Permian Basin. The Company holds approximately 14,505 net acres and holds interests in 38 gross (34.5 net) wells in the Permian Basin, all of which the Company operates. The asset continued to provide a stable production base during the second quarter. The Company remained focused on operating efficiency and continued to evaluate lift conversions, well interventions and other optimization opportunities designed to reduce operating costs and improve margins. Liquidity and Capital Structure As of June 30, 2026, the Company had cash of $10.8 million and restricted cash of $1.3 million. During the quarter, revolver borrowings under the Company’s Senior Secured Revolving Credit Facility declined to $85.0 million from $98.0 million as of March 31, 2026. Working capital deficit, excluding derivative contract assets and liabilities, was $8.6 million at June 30, 2026, compared to $34.1 million at December 31, 2025, a decrease of $25.5 million, consistent with the improvement described above. As of June 30, 2026, the Company also had $40.0 million of additional availability under the A&R Credit Agreement. Earnings Conference Call PEDEVCO management will host a conference call today, Thursday, August 13, 2026, at 5:00 p.m. Eastern time to discuss its financial results for the second quarter ended June 30, 2026, followed by a question-and-answer period. Date: Thursday, August 13, 2026Time: 5:00 p.m. Eastern timeDial-in registration link: hereWebcast registration link: here The conference call will also be available for replay in the Events section of the Company’s website, along with the transcript, at https://www.pedevco.com/investors. About PEDEVCO Corp. PEDEVCO Corp. (NYSE American: PED) is a publicly traded energy company engaged in the acquisition and development of strategic oil and gas assets in the Rocky Mountain region. The Company’s principal assets include its D-J Basin assets in southeastern Wyoming and northern Colorado, its Powder River Basin assets in northeastern Wyoming, and its Permian Basin assets in eastern New Mexico, collectively representing over 300,000 net acres. PEDEVCO is headquartered in Houston, Texas. More information about PEDEVCO can be found at www.pedevco.com. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions, are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results to differ materially from those expressed or implied. Forward-looking statements in this release include, but are not limited to, statements regarding the Company’s second-half 2026 development program, including planned capital investment, well count and the timing and expected contribution of first production, expected benefits of the Juniper Merger including cost savings and operational synergies, expected operational efficiencies and cost reductions, expected production levels, including expected third-quarter production cadence and the expected contribution of the Hastings well, development plans, permitting and other regulatory matters affecting the Company’s acreage, estimated reserves, and the Company’s ability to fund its operations and service its obligations. Factors that could cause actual results to differ include, among others: volatility in oil and natural gas prices; the Company’s ability to successfully integrate the acquired operations; the Company’s ability to service its credit facility obligations; results of development and production activities; changes in operating costs; regulatory developments including those affecting federal and state leases; availability and costs of services and materials; and the risks described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, its Quarterly Reports on Form 10-Q, and other filings with the SEC. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date of this release. Use of Non-GAAP Financial Information This press release includes EBITDA and Adjusted EBITDA, which are presented as supplemental measures of the Company’s performance. These are not recognized in accordance with generally accepted accounting principles (“GAAP”) and should not be viewed as an alternative to GAAP measures of performance. EBITDA represents net income before interest, taxes, depreciation and amortization. Adjusted EBITDA represents EBITDA adjusted to exclude share-based compensation, impairment of oil and gas properties, unrealized (gain) loss on derivative contracts, gain on sale of oil and gas properties, merger acquisition costs, and note receivable – credit loss. The Company believes these measures provide additional useful information to investors and are frequently used by analysts, investors and other interested parties to evaluate companies in the oil and gas industry. Management uses Adjusted EBITDA to evaluate the Company’s operating performance and cash-generating capacity across periods on a consistent basis, to assist in capital allocation decisions and to facilitate comparisons with other companies in the oil and gas industry, some of which calculate similarly titled measures differently. However, EBITDA and Adjusted EBITDA have limitations and should not be considered in isolation or as substitutes for analysis of results as reported under GAAP. Additionally, the Company’s calculation of these measures may differ from similarly titled measures used by other companies. A reconciliation of net (loss) income to Adjusted EBITDA is provided at the end of this release. The most directly comparable GAAP measure is net (loss) income, which is presented with equal or greater prominence in this release. The Company has not designated any derivative instruments as accounting hedges. Changes in fair value and cash settlements are recognized in earnings under “Net income (loss) on derivative contracts” in the Consolidated Statements of Operations. For the three months ended June 30, 2026, the Company recognized net income on derivative contracts of $5.0 million, comprising $8.1 million of realized settlement losses and a $13.1 million unrealized mark-to-market gain. For the six months ended June 30, 2026, the Company recognized a net loss on derivative contracts of $26.3 million, comprising $11.5 million of realized settlement losses and $14.8 million of unrealized mark-to-market losses. See Note 9 of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 for complete disclosure. CONTACTS:Media Contact: PEDEVCO Corp.(713) [email protected] Investor Relations Contact: Sean Mansouri, CFA or Laurent WeilElevate IR(720) [email protected] Source: PEDEVCO Corp.

North American Construction (NOA) came out with quarterly earnings of $0.23 per share, missing the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -20.69%. A quarter ago, it was expected that this heavy construction and mining services company would post earnings of $0.32 per share when it actually produced earnings of $0.27, delivering a surprise of -15.63%. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. North American Construction, which belongs to the Zacks Oil and Gas - Mechanical and and Equipment industry, posted revenues of $289.65 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 14.52%. This compares to year-ago revenues of $231.73 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. North American Construction shares have added about 6.5% since the beginning of the year versus the S&P 500's gain of 12.9%. While North American Construction has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for North American Construction was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.69 on $282.12 million in revenues for the coming quarter and $1.79 on $1.01 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Mechanical and and Equipment is currently in the top 45% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Pedevco Corp. (PED), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 13. This company is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of +190%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Pedevco Corp.'s revenues are expected to be $38 million, up 445.2% from the year-ago quarter. 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 North American Construction Group Ltd. (NOA) : Free Stock Analysis Report Pedevco Corp. (PED) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

National Energy Services Reunited (NESR) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.21 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +25.71%. A quarter ago, it was expected that this company would post earnings of $0.21 per share when it actually produced earnings of $0.26, delivering a surprise of +23.81%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. National Energy Services Reunited, which belongs to the Zacks Oil and Gas - Mechanical and and Equipment industry, posted revenues of $520.75 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 13.60%. This compares to year-ago revenues of $327.37 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. National Energy Services Reunited shares have added about 85.3% since the beginning of the year versus the S&P 500's gain of 13.3%. While National Energy Services Reunited has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for National Energy Services Reunited was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.49 on $508.63 million in revenues for the coming quarter and $1.74 on $1.95 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Mechanical and and Equipment is currently in the top 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Pedevco Corp. (PED), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 13. This company is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of +190%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Pedevco Corp.'s revenues are expected to be $38 million, up 445.2% from the year-ago quarter. 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 National Energy Services Reunited (NESR) : Free Stock Analysis Report Pedevco Corp. (PED) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Excelerate Energy (EE) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +5.71%. A quarter ago, it was expected that this provider of floating liquified natural gas terminals would post earnings of $0.39 per share when it actually produced earnings of $0.37, delivering a surprise of -5.13%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Excelerate Energy, which belongs to the Zacks Alternative Energy - Other industry, posted revenues of $329.27 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.95%. This compares to year-ago revenues of $204.56 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Excelerate Energy shares have added about 39.8% since the beginning of the year versus the S&P 500's gain of 13%. While Excelerate Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Excelerate Energy was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.41 on $356.35 million in revenues for the coming quarter and $1.52 on $1.47 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Alternative Energy - Other is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the broader Zacks Oils-Energy sector, Pedevco Corp. (PED), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 13. This company is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of +190%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Pedevco Corp.'s revenues are expected to be $38 million, up 445.2% from the year-ago quarter. 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 Excelerate Energy, Inc. (EE) : Free Stock Analysis Report Pedevco Corp. (PED) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Forum Energy Technologies (FET) came out with quarterly earnings of $1.16 per share, beating the Zacks Consensus Estimate of $0.57 per share. This compares to a loss of $0.1 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +103.51%. A quarter ago, it was expected that this provider of manufactured technologies and applied products in the energy sector would post earnings of $0.44 per share when it actually produced earnings of $0.47, delivering a surprise of +6.82%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Forum Energy, which belongs to the Zacks Oil and Gas - Mechanical and and Equipment industry, posted revenues of $226.22 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 6.53%. This compares to year-ago revenues of $199.8 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Forum Energy shares have added about 38.3% since the beginning of the year versus the S&P 500's gain of 6.9%. While Forum Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Forum Energy was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.54 on $219 million in revenues for the coming quarter and $2.16 on $858.5 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Mechanical and and Equipment is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Pedevco Corp. (PED), has yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of +190%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Pedevco Corp.'s revenues are expected to be $38 million, up 445.2% from the year-ago quarter. 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 Forum Energy Technologies, Inc. (FET) : Free Stock Analysis Report Pedevco Corp. (PED) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance in the first full quarter following the Juniper merger exceeded internal expectations, driven by 31 D-J Basin wells that performed ahead of their type curves. The reported net loss of $25.6 million was primarily attributed to a $31.3 million net loss on derivative contracts, of which $27.9 million was a non-cash mark-to-market adjustment. Management successfully reduced the working capital deficit by $27.1 million, resolving the 'hangover' from development capital and merger-related payables outstanding at year-end. Production is expected to moderate in the middle of 2026 as the high-performing D-J Basin wells follow their natural decline curves after reaching peak production in Q1. Strategic positioning is focused on a deep inventory across the D-J, Powder River, and Permian Basins, with capital commitments strictly tied to return thresholds and liquidity. The company is transitioning to a durable Rockies-focused energy platform, prioritizing cash flow generation and balance sheet strength over aggressive volume growth. Full-year 2026 guidance is reiterated at 6,500 to 7,000 BOE per day and $60 million to $70 million of adjusted EBITDA based on currently approved capital expenditures. A major optimization program targeting pump conversions and well interventions is expected to deliver up to $1 million per month in LOE savings by 2027. Management plans to complete and bring online a high-working-interest DUC in the D-J Basin by mid-summer 2026 to support second-half volumes. Future development activity for late 2026 and 2027 is being evaluated, with Permian and D-J assets offering the fastest response times to constructive commodity prices. The company expects to release $3.6 million of restricted cash to unrestricted status within the next 90 days following the transition to a new surety program. The 1-for-20 reverse stock split effective March 13, 2026, has been retroactively applied to all share count and per-share figures in the financial reporting. A $1.6 million non-cash impairment was recorded during the quarter related to expired acreage in the D-J Basin. The hedge book remains a significant factor in reported GAAP results, with 3-way collars allowing participation in upside up to $80 while protecting the capital plan. Current liquidity stands at approximately $33 million, with $22 million of availability remaining on the $120 million borrowing base. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Optimization work began in earnest in Q2, though two wells were successfully converted to rod pumps in Q1 below budget. The majority of the $10 million to $13 million optimization budget is scheduled for spring, summer, and fall to avoid winter operational challenges in the Rockies. The immediate focus is completing the D-J DUC this summer, while Powder River Basin projects currently involve longer lead times for development. Optimization projects are being applied across all three basins (D-J, PRB, and Permian) to capture cost-saving opportunities regardless of new drilling. Management can move very quickly on Permian and certain D-J Basin assets, whereas the Powder River Basin requires more lead time for permitting. Non-operated positions in the Colorado D-J are being coordinated with partners for potential late 2026 and 2027 development. The company is currently approximately high-60% hedged, down from the 75% requirement at the time of the merger close. The use of 3-way hedges with $80 calls allows the company to participate in price appreciation that traditional swaps would exclude.