Presidio (FTW) Q1 2026 earnings summary

Executive summary

• Completed business combination and began trading on NYSE under ticker FTW on March 4, 2026, establishing a disciplined, cash flow-focused model centered on acquiring and optimizing producing oil and gas assets.

• Launched AI-focused Asset Intelligence Group and FTW Technologies LLC to drive operational efficiency and production uplift, targeting 3%-5% production growth in 2026 without capital expenditure.

• Declared first annualized dividend of $1.35 per share, with plans to increase to $1.50 upon closing the Arkoma Basin/Canyon Creek acquisition.

• Signed definitive agreement to acquire Canyon Creek/Arkoma Basin assets for $83 million, marking entry into a new basin and demonstrating model scalability.

• Over $1 billion in acquisition pipeline, with a focus on developed, operated, low-decline assets in the Mid-Continent region.

Financial highlights

• First quarter 2026 results split into predecessor and successor periods due to new accounting basis post-business combination.

• Net production averaged 22,000 BOE/d (16% oil, 57% gas, 27% NGLs); lease operating expense $9.47/BOE; capex under $1 million.

• Total revenue for Q1 2026 was $51.9 million; net loss attributable to the company was $96.8 million (combined periods).

• Adjusted EBITDA for Q1 2026 was $11.2 million (combined periods); management expects ~$30 million Adjusted EBITDA for Q2 2026.

• First quarter results impacted by non-recurring transaction costs, $47 million non-cash stock-based compensation, $7 million transaction costs, and $44 million unrealized net commodity derivative losses.

Outlook and guidance

• Q2 2026 adjusted EBITDA expected at ~$30 million, with similar levels projected for subsequent quarters.

• Dividend expected to increase to $1.50 per share annually after Arkoma/Canyon Creek acquisition closes.

• Asset Intelligence Group targeting 3%-5% production growth in 2026 without additional capex, with 1% uplift achieved through April.

• Over $1 billion in bids in process for additional PDP acquisitions, with $1.4 billion of bids in process.