Granite Ridge Resources, Inc. Reports Q4 and Full-Year 2025 Results, 2026 Outlook
Granite Ridge Resources, Inc. Announces Fourth Quarter and Full-Year 2025 Results; Issues 2026 Guidance
Key Takeaways for Investors
- Total production increased 27% to 35,120 Boe/day (49% oil), including a 17% increase in oil production.
- Net loss for Q4 2025 was \$25.1 million (\$(0.19) per share), but Adjusted Net Income (non-GAAP) was positive at \$1.5 million (\$0.01 per diluted share).
- For the full year 2025, net income was \$24.4 million (\$0.18 per diluted share). Adjusted Net Income (non-GAAP) was \$57.7 million (\$0.43 per diluted share).
- Adjusted EBITDAX (non-GAAP) for Q4 2025 was \$71.5 million; full year was \$315.0 million.
- Cash flow from operating activities was \$64.5 million in Q4 and \$296.4 million for the year.
- Dividend payments for 2025 totaled \$57.7 million.
- 2026 guidance and outlook issued.
- Balance sheet remains strong, with total assets of \$1.17 billion and stockholders’ equity of \$605.8 million as of December 31, 2025.
- Significant non-cash impairments of \$44.7 million in Q4 2025 (\$44.7 million total for the year)—may be price sensitive.
- Conference call scheduled for March 6, 2026, and participation in Piper Sandler Energy Conference on March 17, 2026.
Detailed Financial and Operational Summary
Production and Revenue Highlights
- 2025 total production was 35,120 Boe/day, up 27% year-over-year. Oil represented 49% of production.
- Full-year oil and natural gas sales: \$592.3 million.
- Q4 2025 oil and gas sales: \$146.3 million.
Profitability and Adjusted Results (Non-GAAP)
- Q4 2025 net loss: \$25.1 million (\$(0.19) per share).
- Q4 Adjusted Net Income (non-GAAP): \$1.5 million (\$0.01 per share).
- Full-year 2025 net income: \$24.4 million (\$0.18 per share).
- Full-year Adjusted Net Income (non-GAAP): \$57.7 million (\$0.43 per share).
- Adjusted EBITDAX: \$71.5 million (Q4), \$315.0 million (full year).
- Cash flow from operations: \$64.5 million (Q4), \$296.4 million (full year).
Impairments and Special Items
- Q4 2025 included non-cash impairment charges of \$44.7 million due to asset revaluations. This is a potentially price-sensitive event that may impact future reported earnings and book value.
- Yearly impairments: \$44.7 million (Q4), \$44.7 million (full year).
- Depletion and accretion expense: \$215.7 million (full year).
Balance Sheet and Liquidity
- Total assets at year-end: \$1,168.1 million.
- Stockholders’ equity: \$605.8 million (down from \$635.4 million at year-end 2024).
- Debt: \$205.0 million in credit facility borrowings; \$336.0 million in senior notes issued (net of discount) during 2025.
- Cash at year-end: \$14.8 million.
Capital Expenditures and Dividends
- Capital expenditures for oil and gas properties: \$300.8 million (2025), up from \$118.5 million (2024).
- Dividend payments in 2025: \$57.7 million (comparable to 2024).
- Treasury shares purchased: minimal activity (\$16,000 in 2025).
2026 Outlook and Guidance
- 2026 guidance was issued, though specific numbers are not detailed in the press release excerpt.
- Cash G&A expense guidance: \$25–\$27 million for 2026.
- Continued focus on production growth, capital discipline, and maintaining a strong balance sheet.
Events and Investor Engagement
- Granite Ridge will host a webcast and conference call on Friday, March 6, 2026 at 10:00 AM CT to discuss results. A Q&A session with analysts will follow.
- Management will participate in the Piper Sandler Energy Conference on March 17, 2026.
- Investor presentations available at https://ir.graniteridge.com.
Additional Important Information for Shareholders
- Large impairment charge in Q4 2025 may impact perception of asset quality and future earnings.
- Net loss in Q4, despite strong cash flow and adjusted results, may create short-term volatility.
- Dividend payments remain steady, which may be supportive for yield-focused investors.
- Balance sheet remains robust, but total equity declined year-over-year—investors should monitor future capital allocation and debt management.
- Active derivatives program: company provides detailed derivatives disclosures, which may impact future realized prices and earnings volatility.
- Forward-looking statements and guidance are subject to risks, including commodity price fluctuations, operational risks, and changes in regulatory environment.
Summary Table: Select 2025 Financial Metrics
|
Q4 2025 |
Full-Year 2025 |
| Total Production (Boe/day) |
~35,120 |
~35,120 |
| Net Income (Loss) |
\$(25.1) million |
\$24.4 million |
| Adjusted Net Income (non-GAAP) |
\$1.5 million |
\$57.7 million |
| Adjusted EBITDAX |
\$71.5 million |
\$315.0 million |
| Operating Cash Flow |
\$64.5 million |
\$296.4 million |
| Dividend Payments |
— |
\$57.7 million |
| Impairments (Non-Cash) |
\$44.7 million |
\$44.7 million |
| Stockholders’ Equity (12/31) |
\$605.8 million |
| Total Assets (12/31) |
\$1,168.1 million |
Conclusion
Granite Ridge Resources, Inc. delivered strong operational growth in 2025, highlighted by a substantial increase in production and solid cash flow generation. However, the company posted a net loss in Q4 due to significant non-cash impairment charges, which may be a key point for shareholders and could influence share price in the near term. The company continues to return capital to shareholders via dividends and maintains a strong balance sheet, positioning it for continued execution in 2026. Investors should monitor the upcoming conference call and management’s participation in key industry events for further insights into strategic direction and future performance.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. All financial data is provided as reported by Granite Ridge Resources, Inc. and may be subject to revision or restatement. Investors should review the company’s filings with the Securities and Exchange Commission and consult their own financial advisors before making investment decisions. The article contains forward-looking statements that are subject to risks and uncertainties which may cause actual results to differ materially from those anticipated.
View Granite Ridge Resources, Inc. Historical chart here
