Pedevco Reports Q3 2026 Revenue Growth Amid Net Loss Driven by Derivative Mark-to-Market Movements
Pedevco (PED) reported third-quarter 2026 revenue of $35.5 million, a significant 411% increase compared to the prior-year period, driven by expanded assets and higher realized oil prices. Despite this top-line growth and an increase in Adjusted EBITDA to $14.7 million, the company reported a net loss of $9.2 million ($0.70 per share). This loss was primarily attributed to a $16.6 million net loss from derivative contracts, including non-cash mark-to-market movements. The company is actively expanding its footprint, highlighted by the $5.9 million acquisition of approximately 5,678 net acres in the Powder River Basin. While daily production saw a sequential decline to 5,850 BOE per day due to maintenance and shut-ins, management expects stronger production in the fourth quarter. Pedevco is also pursuing an optimization program aimed at $10 million in annualized savings.
Tickers: $PED
Topics: Adjusted EBITDA Derivative Losses Net Loss Oil Production Revenue Growth