Unit Corp Q1 net income falls 74% yr/yr

Unit

07/05/2026 14:11

Overview

U.S. oil and gas producer's Q1 revenue rose 2.4% yr/yr, net income declined 74%

Company agreed to sell non-core Oklahoma leasehold interests for $18.7 mln

Quarterly dividend maintained at $1.25 per share

Outlook

Company did not provide specific financial or operational guidance for the current or future periods

Result Drivers

DERIVATIVES LOSS - Substantial loss on derivatives in Q1 2026 compared to a gain in the prior year impacted net income

PORTFOLIO STREAMLINING - Sale of non-core deep rights in Oklahoma reflects effort to focus on higher-return areas, per CEO Phil Frohlich

SHIFT IN OPERATIONAL FOCUS - Co said it is prioritizing development in Cherokee Shale and Red Fork formations, citing meaningful potential

Company press release: ID:nBw63Bf2da

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$29.07 mln
Q1 Net Income
$4.66 mln


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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.)