Financial Performance - Total revenues increased by $121.7 million, or 16%, to $866.6 million for the three months ended September 30, 2025, compared to $744.9 million in the same period of 2024[192]. - Total revenues for the nine months ended September 30, 2025, increased by $659.1 million, or 32%, to $2.71 billion, compared to $2.06 billion for the same period in 2024[213]. - The company reported net income (loss) of $(10.3) million for the three months ended September 30, 2025, compared to $(5.6) million for the same period in 2024, reflecting an increase in loss of 84%[207]. - Net income increased by $125.9 million, or 390%, to $158.1 million for the nine months ended September 30, 2025, compared to $32.3 million in 2024[228]. - The company’s net cash provided by operating activities increased by $470.5 million, or 56%, to $1.31 billion for the nine months ended September 30, 2025, compared to $838.7 million in 2024[229]. Revenue Breakdown - Natural gas revenue surged by $65.7 million, or 83%, driven by a 61% increase in realized prices per Mcf and a 14% increase in sales volume[193]. - Oil revenue rose by $47.9 million, or 9%, attributed to a 20% increase in sales volume, offset by a 9% decrease in realized prices per Bbl[192]. - Oil revenue increased by $296.5 million, or 19%, to $1.82 billion for the nine months ended September 30, 2025, driven by a 37% increase in sales volume[213]. - Natural gas revenue surged by $280.9 million, or 134%, to $490.9 million for the nine months ended September 30, 2025, primarily due to a 45% increase in sales volume[214]. - NGL revenue rose by $77.2 million, or 35%, to $298.3 million for the nine months ended September 30, 2025, driven by a 39% increase in sales volume[215]. Expenses and Costs - Operating expenses increased by $60.3 million, or 18%, totaling $386.9 million, primarily due to higher production from acquisitions[196]. - Operating expenses increased by $256.1 million, or 28%, to $1.18 billion for the nine months ended September 30, 2025, compared to $924.4 million for the same period in 2024[218]. - General and administrative expenses decreased by $85.4 million, or 53%, to $74.3 million, driven by lower equity-based compensation and transaction-related expenses[200]. - Interest expense increased by 17% to $72.6 million, primarily due to higher average debt balances from acquisitions[202]. - Interest expense rose to $221.0 million for the nine months ended September 30, 2025, compared to $146.9 million in 2024, driven by higher average debt balances from the SilverBow Merger and Ridgemar Acquisition[223]. Acquisitions and Mergers - Crescent acquired Ridgemar (Eagle Ford) LLC for $807.2 million in cash and 5.5 million shares of Class A Common Stock, with potential contingent earn-out consideration of up to $170.0 million[165]. - The company completed the SilverBow Merger, issuing 51.6 million shares of Class A Common Stock and paying $382.4 million in cash to former SilverBow shareholders[166]. - The company acquired additional interests in oil and gas properties in Webb County, Texas, for approximately $21.2 million in January 2025[167]. - In July 2025, Crescent acquired a portfolio of oil and natural gas mineral interests for total cash consideration of approximately $67.9 million, funded through borrowings from its Revolving Credit Facility[168]. - Cash used for the acquisition of oil and natural gas properties was $942.5 million in 2025, up from $387.8 million in 2024, primarily due to the Ridgemar Acquisition and Minerals Acquisition[259]. Debt and Financing - Crescent Energy recorded impairment expenses of $73.5 million and $122.2 million for the three and nine months ended September 30, 2025, respectively, related to oil and natural gas properties[155]. - The company completed a cash tender offer for approximately $306.1 million of its outstanding 9.250% Senior Notes due 2028 and redeemed an additional $193.9 million of these notes, resulting in a loss on extinguishment of debt of approximately $29.2 million[157]. - Crescent issued $600.0 million of 8.375% senior notes due 2034, with net proceeds of approximately $588.1 million used to finance the tender offer and redeem the 2028 notes[158][159]. - The company incurred a loss on extinguishment of debt of $29.2 million during the nine months ended September 30, 2025, compared to a loss of $59.1 million in 2024[224]. - The company expects to maintain compliance with covenants under its debt agreements based on planned capital spending and forecasted cash flows[236]. Operational Metrics - Average daily net sales volumes for oil increased by 20% to 103 MBbls/d, while natural gas volumes rose by 14% to 631 MMcf/d[192]. - Total sales volume increased by 3,111 MBoe and 20,178 MBoe for the three and nine months ended September 30, 2025, respectively, primarily due to acquisitions[186]. - The effective tax rate for the three months ended September 30, 2025, was 28.2%, up from 22.7% in the prior year, influenced by increased ownership of OpCo[205]. - The effective tax rate for the three months ended September 30, 2025, increased due to higher ownership of OpCo, with a deferred tax liability increase of $136.9 million[173]. - The company plans to fund its 2025 capital program through cash flow from operations, with flexibility to defer expenditures based on market conditions[178]. Shareholder Returns - The Board of Directors approved a quarterly cash dividend of $0.12 per share, amounting to an annualized dividend of $0.48 per share, payable on December 1, 2025[262]. - The company paid cash dividends of $0.36 per share of Class A Common Stock during the nine months ended September 30, 2025[261]. - Management will evaluate future increases in cash dividends on a quarterly basis, considering current economic conditions[263]. Derivative and Risk Management - As of September 30, 2025, the company's derivative portfolio had an aggregate notional value of approximately $3.1 billion, with a net asset fair market value of $88.8 million[275]. - A hypothetical 10% increase in commodity prices would change the net commodity derivative position by approximately $198.6 million, while a 10% decrease would change it by approximately $168.4 million[276]. - The company had $72.0 million of variable rate debt outstanding as of September 30, 2025, with a potential interest expense impact of approximately $0.5 million for a 1% change in interest rates[282].

Core Insights - Crescent Energy Company announced its financial and operational results for the third quarter of 2025, with a conference call scheduled for November 4, 2025 [1][5] - The company is focused on delivering shareholder value through a disciplined growth strategy and consistent capital returns, with operations primarily in Texas and the Rocky Mountain region [2] Financial Highlights - Crescent Energy successfully completed its fall borrowing base redetermination, increasing its borrowing base by 50% under its reserve-based revolving credit facility, reflecting strong support from its bank syndicate [4] - The elected commitment amount for the credit facility was reaffirmed at $2.0 billion [4] Strategic Developments - Crescent Energy announced a definitive agreement to acquire Vital Energy in an all-stock transaction valued at approximately $3.1 billion, including Vital's net debt, which will position Crescent among the top 10 independent energy companies [6]

Core Viewpoint - Crescent Energy (CRGY) is expected to report a year-over-year decline in earnings despite higher revenues, with the actual results being crucial for stock price movement [1][2]. Earnings Expectations - The upcoming earnings report is anticipated to show earnings of $0.32 per share, reflecting an 18% decrease year-over-year, while revenues are projected to be $886.88 million, a 19.1% increase from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised 21.09% higher in the last 30 days, indicating a positive reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP for Crescent Energy is +6.48%, suggesting a likelihood of beating the consensus EPS estimate, supported by a Zacks Rank of 1 [12]. Historical Performance - Crescent Energy has consistently beaten consensus EPS estimates, achieving a surprise of +86.96% in the last reported quarter and surpassing estimates in all of the last four quarters [13][14]. Market Reaction - The stock may experience upward movement if earnings exceed expectations, while a miss could lead to a decline; however, other factors may also influence stock performance [2][15].

Core Insights - Crescent Energy Company has successfully completed its fall borrowing base redetermination, resulting in an increase in its borrowing base and an extension of the credit facility's tenor, reflecting strong support from its bank syndicate and financial discipline [1][3][6] Credit Facility Highlights - The elected commitment amount has been reaffirmed at $2.0 billion - The borrowing base has increased by 50%, from $2.6 billion to $3.9 billion - The maturity of the credit facility has been extended to five years, resulting in no near-term debt maturities and a weighted average maturity of 6.4 years - The pricing grid has been reduced by 25 basis points, from 200–300 basis points to 175–275 basis points [6] Synergy Capture - Crescent Energy has realized approximately $12 million in total synergy capture, which is roughly 13% of the midpoint of its $90–$100 million synergy range associated with the Vital Energy transaction - The early synergies are primarily driven by lower interest expenses, unused commitment fees, and reduced administrative costs [3][6] Company Overview - Crescent Energy is a differentiated U.S. energy company focused on delivering value for shareholders through a disciplined growth strategy and consistent return of capital - The company has a long-life, balanced portfolio that combines stable cash flows from low-decline production with high-quality development inventory, primarily focused in Texas and the Rocky Mountain region [4]

Group 1 - Crescent Energy (CRGY) closed at $8.25, reflecting a -1.9% change from the previous day, underperforming the S&P 500's gain of 0.53% [1] - Over the last month, Crescent Energy's shares decreased by 4.21%, while the Oils-Energy sector lost 3% and the S&P 500 gained 0.71% [1] Group 2 - Crescent Energy is expected to report earnings on November 3, 2025, with an anticipated earnings per share (EPS) of $0.33, indicating a year-over-year decline of 15.38% [2] - The Zacks Consensus Estimate for revenue is projected at $894.28 million, representing a 20.06% increase from the previous year [2] Group 3 - Full-year Zacks Consensus Estimates for Crescent Energy forecast earnings of $1.61 per share and revenue of $3.62 billion, reflecting year-over-year changes of -9.55% and +23.43%, respectively [3] - Recent changes to analyst estimates for Crescent Energy are important as they indicate the evolving nature of near-term business trends [3] Group 4 - The Zacks Rank system, which evaluates estimate revisions, indicates that these changes are correlated with near-term share price momentum [4] - Crescent Energy currently holds a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate remaining unchanged over the past month [5] Group 5 - Crescent Energy has a Forward P/E ratio of 5.22, which is significantly lower than the industry average Forward P/E of 21.22 [6] - The Alternative Energy - Other industry, part of the Oils-Energy sector, has a Zacks Industry Rank of 187, placing it in the bottom 25% of over 250 industries [6]

Core Points - Crescent Energy Company (NYSE: CRGY) plans to host a conference call and webcast to discuss its third quarter 2025 financial and operating results [1] - The conference call is scheduled for 10 a.m. CT on Tuesday, November 4, 2025 [1] - The financial results will be released after market close on Monday, November 3, 2025 [1] - Supplemental slides will be available on the company's website [1]

Core Insights - Crescent Energy Company (NYSE:CRGY) experienced a share price decline of 7.47% from September 26 to October 3, 2025, ranking it among the energy stocks that lost the most during that week [1] - The company is involved in the exploration and production of crude oil, natural gas, and natural gas liquids in the United States, primarily focusing on Texas and the Rocky Mountain region [2] - In August, Crescent Energy announced an all-stock acquisition of Vital Energy valued at approximately $3.1 billion, including debt, which is expected to close by year-end [4] Financial Performance - Crescent Energy's share price had previously increased over 16% in the month leading up to the recent decline, driven by heightened tensions between Russia and Ukraine, which raised expectations for supply cuts and higher prices [3] - The acquisition of Vital Energy is projected to boost the company's FY 2026 revenues by 43% year-over-year to $5.3 billion, with production volume anticipated to rise by 46% to 386,000 barrels of oil equivalent per day [4] - The recent drop in WTI crude oil prices to a four-month low is attributed to increased output from OPEC+ and concerns over a potential US government shutdown, impacting market conditions [3]

Group 1 - The article discusses the analysis of oil and gas companies, specifically Crescent Energy, focusing on identifying undervalued companies in the sector [1] - The formation of Crescent Energy involved a partnership with KKR, aimed at leveraging opportunities in the cyclical oil and gas industry [2] - The industry is characterized as a boom-bust cycle, requiring patience and experience for successful investment [2] Group 2 - The article emphasizes the importance of thorough analysis, including balance sheets, competitive positioning, and development prospects of companies in the oil and gas sector [1]

Group 1 - The article discusses the analysis of oil and gas companies, specifically Crescent Energy, focusing on identifying undervalued companies in the sector [1] - The formation of Crescent Energy involved a partnership with KKR, emphasizing the cyclical nature of the oil and gas industry and the importance of patience and experience in navigating it [2] Group 2 - The article highlights the credentials of John Goff, Chairman of Crescent Energy, noting his background as a retired CPA and his educational qualifications [2]

Group 1 - Crescent Energy (CRGY) closed at $8.50, reflecting a +1.07% change from the previous day, outperforming the S&P 500's gain of 0.44% [1] - Over the past month, Crescent Energy's shares declined by 15.39%, underperforming the Oils-Energy sector's gain of 3.62% and the S&P 500's gain of 4.03% [1] Group 2 - The upcoming earnings release for Crescent Energy is anticipated to show an EPS of $0.32, indicating a 17.95% decline year-over-year, while revenue is expected to reach $900.88 million, up 20.94% from the prior year [2] - For the fiscal year, earnings are projected at $1.53 per share and revenue at $3.63 billion, reflecting changes of -14.04% and +23.8% respectively from the previous year [3] Group 3 - Recent analyst estimate revisions for Crescent Energy suggest a direct correlation with stock price performance, indicating potential optimism about the business outlook [4] - The Zacks Rank system, which incorporates estimate changes, currently ranks Crescent Energy at 3 (Hold), with a 6.29% decline in the Zacks Consensus EPS estimate over the past month [5] Group 4 - Crescent Energy is currently trading at a Forward P/E ratio of 5.51, which is significantly lower than the industry average Forward P/E of 20.16 [6] - The Alternative Energy - Other industry, part of the Oils-Energy sector, holds a Zacks Industry Rank of 180, placing it in the bottom 28% of over 250 industries [6]