Crescent Energy Company reported fourth‑quarter 2025 results, posting revenue of $865 million and adjusted earnings per share of $0.49, a $0.21 beat over the consensus estimate of $0.28.
The earnings beat was driven by disciplined cost management and operational execution. The company maintained a strong mix of high‑margin Eagle Ford and Permian production while reducing well costs by 15% in core basins, allowing profitability to rise even as revenue slipped.
Revenue fell to $865 million, missing the $899.95 million estimate and the $883–$904 range of consensus forecasts. The shortfall was attributed to weaker demand in the Uinta basin and sales challenges in the minerals segment, which offset gains in the core oil and gas operations.
Compared with the prior year, Q4 2024 revenue was $875.29 million and EPS $1.08, while Q3 2025 revenue was $866.58 million and EPS $0.35. Full‑year 2024 revenue stood at $3.58 billion with an EPS of $0.54, underscoring a decline in top‑line growth but a stronger quarterly earnings performance.
Management guided for Q1 2026 revenue of approximately $1.19 billion and EPS of $0.37, and for full‑year 2026 revenue of $4.60 billion and EPS of $1.37. The board also approved a $400 million share‑buyback authorization and a quarterly dividend of $0.12 per share.
The results come amid a portfolio transformation that includes the $3.1 billion acquisition of Vital Energy and two Eagle Ford minerals purchases totaling $355 million. The company’s strategy of buying assets and improving them has driven a 15% reduction in well costs and a doubling of synergy targets in the Permian.
Investors reacted with a muted market response, as the strong earnings beat was tempered by the revenue miss. The contrast between profitability and top‑line weakness led to a slight negative after‑hours move.
CEO David Rockecharlie said, '2025 was a transformational year, and our value proposition has never been more compelling.' He added, 'Today, we operate scaled positions across three premier basins – the Eagle Ford, the Permian and the Uinta, complemented by a world‑class minerals platform, and we believe there is significant upside embedded in our business.'
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