PEDEVCO Q2 revenue jumps on higher production

PEDEVCO

13/08/2026 21:16

Overview
U.S. oil and gas producer's Q2 revenue rose 561% yr/yr on higher production, pricing
Q2 net income swung to profit from loss, reflecting expanded asset base and derivatives gain
Adjusted EBITDA for Q2 surged 516% yr/yr, driven by higher volumes and oil price

Outlook
PEDEVCO plans to drill or participate in over 20 gross wells in H2 2026
Company expects production to be lower in July, improving as new wells contribute
Development plan expected to drive future production and cash flow growth

Result Drivers
ASSET BASE EXPANSION - Higher production volumes and revenue driven by assets acquired in the October 2025 Juniper Merger
OIL PRICE IMPACT - Higher average realized oil price contributed to revenue and Adjusted EBITDA growth
DERIVATIVES GAIN - Net income included $5 mln from derivative contracts, mainly due to non-cash unrealized mark-to-market gain

Company press release: ID:nGNX8fm5vN

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Income
 
$17.45 mln
 
Q2 Adjusted EBITDA
 
$18.67 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for PEDEVCO Corp is $18.00, about 60% above its August 12 closing price of $11.25
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
Aug 10 - HighPeak Energy Q2 net income more than triples on higher crude prices
Aug 12 - Battalion Oil Q2 revenue rises on higher prices despite lower output
Aug 10 - Summit Midstream's Q2 adjusted EBITDA rises 12% from Q1 on Rockies segment growth

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)