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Topaz Energy (TPZ) investor relations material
Topaz Energy Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 royalty production rose 9% YoY to 23,507 boe/d; cash flow was $87.0 million and free cash flow was $85.4 million.
Q3 net income was $32.0 million, while adjusted net income excluding unrealized derivative losses was $50.3 million.
Financial highlights
Total revenue and other income was $104.3 million: 78% from royalties and 22% from infrastructure and other income.
Cash flow was $0.56/share, up 14% YoY; FCF was $0.55/share, up 16% YoY, with $31.1 million of excess FCF.
Q3 EBITDA was $102.2 million; net income was $32.0 million, or $0.21 per diluted share.
Cash expenses excluding realized hedging gains/losses and current income tax were $9.0 million versus $10.3 million YoY.
Outlook and guidance
2026 guidance was reconfirmed: average royalty production of 23,900–24,300 boe/d, processing revenue and other income of $92–94 million, and year-end net debt of $425–430 million.
Guidance assumes 95% infrastructure utilization, no incremental acquisitions, and Q4 pricing of C$2.00/mcf AECO and US$98.50/bbl WTI.
Planned operator activity implies 24–29 drilling rigs on royalty acreage through Q4 2026.
- Operator-funded growth and high-margin revenue underpin progressive dividends and acquisition capacity.TPZ
Corporate presentation - Q2 2026 saw record royalty production, higher revenue, and increased 2026 guidance.TPZ
Q2 2026 - Q1 2026 outperformed guidance, with record royalty production and a dividend increase.TPZ
Q1 2026 - High-margin royalty and infrastructure assets support strong free cash flow and dividend growth.TPZ
Investor presentation - 2025 saw record royalty production, reserves growth, and high FCF margins, with a strong 2026 outlook.TPZ
Q4 2025 - Rapid growth, robust dividends, and long-term contracts drive strong organic expansion.TPZ
Sidoti September Small-Cap Virtual Conference - Record royalty production, strong cash flow, and dividend growth highlight Q2 2024 results.TPZ
Q2 2024 - High-margin growth, diversified assets, and disciplined M&A drive robust returns and future upside.TPZ
Small-Cap Growth Virtual Investor Conference - Record royalty production and cash flow growth support a higher dividend and strong 2025 outlook.TPZ
Q1 2025
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