Granite Ridge Resources Crushes Q2 Earnings Estimates with 36.7% Revenue Growth

Oil and gas company Granite Ridge Resources (NYSE: GRNT) reported strong Q2 CY2026 results, beating Wall Street's revenue expectations. Its sales grew by 36.7% year-over-year to $149.3 million, exceeding analysts' estimates of $141.3 million.

The non-GAAP profit of $0.09 per share was 21.6% above consensus estimates. The company also reported an adjusted EBITDA margin of 53.3%, which beat Wall Street's estimates by 2.4%.

Granite Ridge Resources' oil production grew modestly, at 2.1% year-over-year. However, its free cash flow was negative $6.64 million compared to -$19.76 million in the same quarter last year.