Chord Energy Misses Earnings Estimates Despite Revenue Beat

Chord Energy Corporation (CHRD) reported its Q2 earnings results on [date]. The company's adjusted earnings per share came in at $6.44, a significant increase of 259.8% from last year's $1.79. However, this fell short of the Zacks Consensus Estimate of $6.68, by 3.6%. Despite missing earnings estimates, Chord's revenue beat expectations, rising 57.2% to $1.5 billion.

The increase in revenue was driven primarily by higher oil output and stronger prices for crude oil and natural gas liquids (NGLs). The company produced 286.4 thousand barrels of oil equivalent per day (MBoe/d), with oil accounting for 57.8% of total production. Oil sales prices, excluding derivatives, increased by 52.5%, reaching $93.99 per barrel.

Chord's cost picture showed mixed trends, with lease operating expense rising to $267.8 million and production taxes increasing to $125.9 million. However, gathering, processing, and transportation expenses declined to $62.8 million. The company's cash flow supported higher capital returns, with net cash provided by operating activities reaching $1.12 billion.

Chord maintained its full-year 2026 oil-volume midpoint at 161 MBbl/d and total production guidance between 278.2-281.8 MBoe/d. The company expects about $3.0 billion of adjusted EBITDA and $1.3 billion of adjusted free cash flow for 2026, assuming $75 WTI and $3 Henry Hub in the second half.