Talos Energy beats Q1 revenue estimates, reiterates 2026 production guidance

Talos Energy

05/05/2026 21:33

Overview

U.S. offshore oil producer's Q1 revenue beat analyst expectations

Adjusted net loss for Q1 was smaller than expected

Company raised share repurchase authorization to $200 mln after Q1 buybacks

Outlook

Talos sees Q2 2026 production at 63-67 MBo/d; 88-92 MBoe/d

Company reiterates full-year 2026 production guidance of 62-66 MBo/d; 85-90 MBoe/d

Talos expects 2026 capital expenditures of $500-550 mln and P&A expenditures of $100-130 mln

Result Drivers

PRODUCTION OUTPERFORMANCE - Q1 oil production at high end and total production exceeded guidance, says co, driven by Cardona well and strong base performance

CARDONA WELL - Cardona well delivered under budget and ahead of schedule, with early production at high end of expectations

IMPAIRMENT CHARGE - Lower average oil prices led to $145 mln non-cash impairment charge under ceiling test accounting

Company press release: ID:nPn6Rq3K4a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$472.31 mln
$433.16 mln (11 Analysts)
Q1 Adjusted Net Income
Beat
-$11.26 mln
-$36.50 mln (5 Analysts)
Q1 Net Income
-$256.17 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for Talos Energy Inc is $17.00, about 4.9% above its May 4 closing price of $16.20

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)