PEDEVCO (PED) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 411% YoY to $35.5 million and production rose 298% to 5,850 BOE/day, largely reflecting assets added in the October 2025 Juniper Merger.

• A $16.6 million derivative loss and higher interest expense contributed to a $9.2 million net loss; development and acreage additions are intended to support growth in 2027.

Financial highlights

• Q3 revenue was $35.5 million versus $7.0 million YoY; $26.7 million of the increase came from higher sales volumes and $1.9 million from higher realized pricing.

• Operating income was $8.9 million, including a $4.7 million net gain on oil and gas property sales.

• Q3 net loss was $9.2 million, or $0.70/share, versus $0.3 million, or $0.07/share; derivative losses and higher interest expense offset stronger operating income.

• Adjusted EBITDA was $14.7 million versus $4.3 million YoY and $18.7 million in Q2; Q3 excludes $2.1 million of severance costs.

• 9M revenue was $121.9 million versus $22.7 million, Adjusted EBITDA was $51.5 million versus $11.6 million, and net loss was $17.4 million.

Outlook and guidance

• Reiterated FY 2026 Adjusted EBITDA guidance of $60 million–$70 million and production guidance of 6,500–7,000 BOE/day; 9M Adjusted EBITDA was $51.5 million.

• FY 2026 net capital expenditure guidance increased to $37 million–$42 million, reflecting Mowry lease acquisitions and development activity.

• Management expects Q4 production to recover as wells affected by temporary shut-ins and rod conversions return; late fall and winter timing may delay activity.

• Management plans to reinvest cash flow and expects to provide more 2027 development details after the CEO search and planning process.