Gulfport Energy (GPOR) Q2 2026 earnings summary

Executive summary

• Achieved strong production growth with Q2 2026 net production at 962.8 MMcfe/day and full-year 2026 guidance of 1.030–1.055 Bcfe/day, up ~5% year-over-year.

• Expanded core Utica position and inventory with 4,700 net undeveloped acres acquired in Ohio for $83 million, adding 16 net drilling locations and launching a $140 million discretionary acreage program for 2026.

• Delivered top-decile adjusted free cash flow yield, with $149.9 million in Q2 2026 operating cash flow and $243 million returned to shareholders in 1H2026.

• Maintained a conservative leverage profile (~1.0x net debt/EBITDA) and substantial liquidity of ~$772 million as of June 30, 2026.

• Leadership transition: Domenic J. Dell'Osso, Jr. appointed CEO in May 2026; CFO Michael Hodges resigning August 2026.

Financial highlights

• Q2 2026 revenues were $323.2 million, with net income of $87.1 million and adjusted EBITDA of $179.1 million.

• Operating cash flow for 1H2026 was $442.8 million; adjusted free cash flow for Q2 2026 was $6.4 million.

• Capital expenditures for Q2 2026 were $148.6 million; full-year 2026 capex guidance is $430 million, including $395 million for operated D&C and $35 million for maintenance land/seismic.

• Repurchased 1.3 million shares for $242.8 million in H1 2026; 8.6 million shares repurchased since program inception.

• Liquidity at June 30, 2026, was $772.4 million, with $280 million outstanding on the revolver and $650 million in 2029 senior notes.

Outlook and guidance

• Full-year 2026 net production guidance: 1.030–1.055 Bcfe/day; liquids production expected to be over 50% higher in H2 2026 compared to H1.

• $140 million targeted for discretionary acreage acquisitions in 2026.

• Management expects continued momentum, sufficient liquidity to fund operations, and a focus on capital efficiency and shareholder returns.

• The scale of inventory additions in 2026 is not expected to repeat in 2027, freeing up more free cash flow for other uses.

• Transition toward more consistent, continuous operations to lower well costs and improve execution, with a full shift expected after 2027.