Presidio (FTW) Q2 2026 earnings summary

Executive summary

• Achieved net income of $14.4 million ($0.34 per Class A share) for Q2 2026, with adjusted EBITDA of $33.2 million, exceeding guidance by 11%.

• Production averaged 22.8 MBoe/d, benefiting from asset integration, AI-driven optimization, and operational efficiencies.

• Closed the Canyon Creek acquisition, expanding into the Arkoma Basin and establishing a new operating platform.

• Completed a major Business Combination and EQVR acquisition, resulting in a new capital structure and expanded asset base.

• Maintained a strong safety record with zero recordable injuries or incidents in the first half of 2026.

Financial highlights

• Total revenue for Q2 2026 was $54.0 million, with adjusted EBITDA of $33.2 million and adjusted unhedged EBITDA of $26.3 million.

• Lease operating expense improved to $9.39/Boe, and total operating expense was $11.22/Boe.

• Free cash flow for the quarter was $15.7 million, or $0.50 per share.

• Annualized dividend of $1.35 per share, yielding approximately 12%.

• Cash and cash equivalents at June 30, 2026 were $42.3 million, with $11.3 million in restricted cash.

Outlook and guidance

• Expect EBITDA to be slightly under $30 million per quarter for the next two quarters, totaling $90 million for the last nine months of 2026.

• Asset Intelligence Group targets 3–5% production growth in 2026 across the existing asset base without capital expenditure; ~1% uplift achieved to date.

• Plan to raise the dividend once Canyon Creek assets contribute to results, subject to board approval.

• Management expects continued commodity price volatility and will maintain a robust hedging program to mitigate downside risk.

• Liquidity sources are expected to be sufficient for operating and financing needs, including debt service and capital expenditures, for at least the next twelve months.