Chord Energy Corporation (CHRD) Misses Q2 EPS by 31c; offers outlook

Chord Energy Corporation (NASDAQ: CHRD) reported Q2 EPS of $6.44, $0.31 worse than the analyst estimate of $6.75. Revenue for the quarter came in at $1.49 billion versus the consensus estimate of $1.61 billion.

2026 Outlook Update:

Chord is updating its 2026 guidance to reflect 1H26 performance and its latest forecasts. In 2026, Chord expects to generate approximately $3.0B of Adjusted EBITDA and $1.3B of Adjusted Free Cash Flow including the impact of derivatives ($75/Bbl WTI and $3.00/MMBtu Henry Hub for 2H26).

Key Update Summary:

Volumes: FY26 oil volume midpoint guidance unchanged at 161 MBopd;

3Q26 oil volume midpoint guidance of 163.0 MBopd reflects continued positive impacts from production optimization initiatives and an acceleration of TILs into 2Q26;
4Q26 oil volumes expected to decline from 3Q26 levels reflecting fewer TILs and the acceleration of completions activity and volumes into 2Q26;

Capital: FY26 CapEx midpoint guidance remains unchanged at $1.4B;

3Q26 CapEx midpoint guidance of $375MM reflects a decline in activity from 2Q26 and plans to drop the second frac crew in 3Q26;

4Q26 CapEx is expected to fall from 3Q26 levels reflecting lower activity;
Realizations: Adjusting realization guidance to reflect the current market outlook;
LOE: FY26 LOE midpoint increased to $10.30/BOE, reflecting additional production enhancement initiatives discussed above, higher workover costs and higher non-operated LOE;
Production Taxes: Slightly increasing guidance reflecting higher oil revenue (oil production tax is a higher percentage than gas and NGLs);
Cash Taxes: FY26 midpoint guidance remains unchanged assuming $70-$100/bbl WTI in 2H26; and
Activity: Chord plans to TIL 140 – 160 gross operated wells with an average working interest of ~75%.

For earnings history and earnings-related data on Chord Energy Corporation (CHRD) click here.

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