Crescent Energy (CRGY) Company Report

Analyst Earnings Quarterly Reports

Earnings summaries and quarterly performance for Crescent Energy.

Analyst Coverage

Research analysts who have asked questions during Crescent Energy earnings calls.

Michael Furrow

Pickering Energy Partners

6 questions for CRGY

Also covers: BKV, CRC, SM +1 more

John Abbott

Wolfe Research

5 questions for CRGY

Also covers: AR, CHRD, CIVI +10 more

Charles Meade

Johnson Rice & Company L.L.C.

4 questions for CRGY

Also covers: APA, BRY, COP +17 more

John Freeman

Raymond James Financial

4 questions for CRGY

Also covers: APA, AR, DVN +9 more

Michael Scialla

Stephens Inc.

4 questions for CRGY

Also covers: AESI, APA, CNX +10 more

Arun Jayaram

JPMorgan Chase & Co.

2 questions for CRGY

Also covers: APA, AR, BKR +33 more

Bert Donnes

William Blair

2 questions for CRGY

Also covers: EQT

Hsu-Lei Huang

Tudor, Pickering, Holt & Co.

2 questions for CRGY

Also covers: CHRD, CIVI, MGY +1 more

Jarrod Giroue

Stephens Inc.

2 questions for CRGY

Also covers: STR

Jonathan Mardini

KeyBanc Capital Markets

2 questions for CRGY

Also covers: BKV, DEC, GPOR +2 more

Lloyd Byrne

Jefferies LLC

2 questions for CRGY

Also covers: CIVI, COP, CVX +4 more

Neal Dingmann

Truist Securities

2 questions for CRGY

Also covers: APA, CHRD, CIVI +36 more

Timothy Rezvan

KeyBanc Capital Markets Inc.

2 questions for CRGY

Also covers: BKV, BSM, CIVI +10 more

Oliver Huang

TPH&Co.

1 question for CRGY

Also covers: APA, CHRD, CIVI +5 more

Philip Jungwirth

BMO

1 question for CRGY

Phillip Jungwirth

BMO Capital Markets

1 question for CRGY

Also covers: AR, CIVI, COP +21 more

Tarek Hamid

JPMorgan Chase & Co.

1 question for CRGY

Also covers: NFE, TALO

Tim Rezvan

KeyBanc Capital Markets

1 question for CRGY

Also covers: BSM, GPOR, INR +9 more

Latest news

Recent press releases and 8-K filings for CRGY.

Crescent Energy Reports Strong Q4 2025 Results and Strategic Transformation

CRGY

Earnings

M&A

New Projects/Investments

Crescent Energy reported Q4 2025 production of 268,000 barrels of oil equivalent per day, generated approximately $536 million of Adjusted EBITDA, and $239 million of Levered Free Cash Flow.
The company completed a transformational year in 2025, executing nearly $5 billion of transactions including over $4 billion in acquisitions and divesting nearly $1 billion in non-core assets, establishing a focused portfolio in the Eagle Ford, Permian, and Uinta basins.
Permian synergy targets have been doubled to $190 million, driven by increased operational efficiencies, overhead optimization, and marketing improvements.
Crescent announced the formation of Crescent Royalties, a new world-class minerals platform that currently contributes approximately $160 million of annual cash flow.
Capital allocation priorities include strengthening the balance sheet, with over $700 million of debt repaid in Q4 2025, maintaining a $0.12 per share quarterly dividend, and an increased $400 million share buyback authorization.

1 day ago

Transcript

Crescent Energy reports Q4 2025 results, highlights portfolio transformation and new royalties platform

CRGY

Earnings

M&A

Share Buyback

In Q4 2025, Crescent Energy generated approximately $536 million of Adjusted EBITDA and $239 million of Levered Free Cash Flow, with production at 268,000 barrels of oil equivalent per day.
The company executed nearly $5 billion of transactions in 2025, including over $4 billion of acquisitions and divesting nearly $1 billion of non-core assets, to become a focused operator in the Eagle Ford, Permian, and Uinta basins.
Synergy targets for the newly acquired Permian assets have been increased by 100%, significantly enhancing expected investment returns.
Crescent Energy announced the formation of Crescent Royalties, a new minerals platform that contributes approximately $160 million of annual cash flow, aimed at enhancing strategic flexibility and long-term value recognition.
The company repaid more than $700 million of debt in Q4 2025 and increased its share buyback authorization to $400 million, while declaring a $0.12 per share dividend for the quarter.

1 day ago

Transcript

Crescent Energy Reports Strong Q4 2025 Results and Outlines 2026 Strategy

CRGY

Earnings

M&A

Share Buyback

Crescent Energy reported Q4 2025 production of 268,000 barrels of oil equivalent per day, including 106,000 barrels of oil per day, and generated approximately $239 million of Levered Free Cash Flow and $536 million of Adjusted EBITDA.
2025 was a transformational year, marked by nearly $5 billion in transactions, including over $4 billion in acquisitions and nearly $1 billion in divestitures, establishing the company as a focused operator in the Eagle Ford, Permian, and Uinta basins.
The company doubled its original synergy target for the Permian assets to $190 million annually, with $40 million+ already captured from overhead, public company expenses, and cost of capital synergies. Operational improvements, such as increasing wells per pad and simulfrac use, are expected to drive further efficiencies.
For Q4 2025, Crescent declared a $0.12 per share dividend, repaid more than $700 million of debt, and increased its share buyback authorization to $400 million. The long-term leverage target remains one time, with an expectation to be below 1.5 times by year-end.
The company introduced Crescent Royalties, a world-class minerals platform contributing approximately $160 million of annual cash flow, with a strategy to continue scaling this platform.

1 day ago

Transcript

Crescent Energy Reports Strong Q4 and Full-Year 2025 Results, Exceeding Guidance

CRGY

Earnings

Dividends

M&A

Crescent Energy reported Q4 2025 Adjusted EBITDAX of $535.735 million and Levered Free Cash Flow of $239.202 million, contributing to full-year 2025 Adjusted EBITDAX of $2.065 billion and Levered Free Cash Flow of $856.123 million, exceeding guidance across all key metrics.
The company maintains an attractive return of capital with a $0.12/share fixed quarterly dividend (5% yield) and has ~$336 million remaining on its $400 million buyback authorization.
As of December 31, 2025, CRGY demonstrated balance sheet strength with 1.5x Net LTM Leverage and ~$2.0 billion in liquidity, with no near-term debt maturities.
Operationally, Q4 2025 net production was 268 Mboe/d (58% liquids). The company executed nearly $5 billion in 2025 MA&D, significantly increasing its Permian synergy target by approximately 100%, and introduced Crescent Royalties. The midpoint of 2026 net production guidance is ~328 Mboe/d (~63% liquids).

1 day ago

Presentation

Crescent Energy Reports Strong Q4 and Full Year 2025 Results, Highlights Portfolio Transformation and Shareholder Returns

CRGY

Earnings

M&A

Share Buyback

Crescent Energy reported strong financial performance for full year 2025, with $1.7 billion of Operating Cash Flow and $856 million in Levered Free Cash Flow, exceeding expectations.
The company achieved record annual production of 260 MBoe/d in 2025 and transformed its portfolio through approximately $5 billion of acquisitions and divestitures, establishing positions across three premier basins.
For the fourth quarter of 2025, Crescent Energy generated $536 million of Adjusted EBITDAX and $239 million of Levered Free Cash Flow, with $9 million of net income and $131 million of Adjusted Net Income.
Crescent Energy strengthened its balance sheet, exiting 2025 with approximately $2 billion of liquidity and a Net LTM Leverage ratio of 1.5x, and announced an updated $400 million buyback authorization along with a $0.12 per share cash dividend for Q4 2025.

2 days ago

8-K

Crescent Energy Finance LLC Issues Senior Notes

CRGY

Debt Issuance

Crescent Energy Finance LLC issued 7.75% Senior Notes Due 2029 on January 2, 2026.
The company is obligated to furnish annual financial statements (substantially in the form of a Form 10-K) within 120 days after each fiscal year-end, and quarterly financial statements (substantially in the form of a Form 10-Q) within 60 days after the end of the first three fiscal quarters.
Covenants related to the Senior Notes include limitations on common stock dividends, which in any fiscal year may not exceed 7% of Market Capitalization.
The indenture also restricts the incurrence of certain indebtedness or issuance of Disqualified Stock, limiting it to an aggregate principal amount or liquidation preference not exceeding the greater of $400.0 million and 5.0% of Adjusted Consolidated Net Tangible Assets.

Jan 2, 2026, 9:05 PM

8-K

Crescent Energy Closes Acquisition of Vital Energy

CRGY

M&A

Board Change

Debt Issuance

Crescent Energy Company closed its all-stock acquisition of Vital Energy, Inc. on December 15, 2025, creating a leading, returns-driven independent E&P company.
The transaction is expected to significantly enhance Crescent's free cash flow profile, operational scale, and opportunity set.
In connection with the closing, William Albrecht and Jarvis Hollingsworth were appointed to Crescent's Board of Directors, which now comprises twelve directors, ten of whom are independent.
Crescent Energy Finance LLC assumed the obligations under Vital Energy's 7.875% senior unsecured notes due 2032.

Dec 15, 2025, 9:15 PM

8-K

Crescent Energy Closes Acquisition of Vital Energy

CRGY

M&A

Board Change

Guidance Update

Crescent Energy closed its all-stock acquisition of Vital Energy, Inc., establishing a leading, returns-driven independent E&P company and positioning Crescent as a top ten liquids-weighted independent.
The combined entity will prioritize free cash flow generation, disciplined capital allocation, and sustainable long-term value creation.
Crescent expects to provide pro forma 2026 guidance with its fourth-quarter and full-year 2025 results.
William Albrecht and Jarvis Hollingsworth were appointed to Crescent's Board of Directors, which now consists of twelve directors (ten independent), following Michael Duginski's resignation.

Dec 15, 2025, 1:50 PM

Press Release

Crescent Energy Announces Early Results of Vital Energy Note Exchange Offers

CRGY

Debt Issuance

M&A

Crescent Energy Finance LLC announced the early results of its exchange offers and consent solicitations for Vital Energy, Inc.'s 7.75% Senior Notes due 2029 and 9.750% Senior Notes due 2030.
As of the December 12, 2025 Early Tender Date, 94.21% of the 2029 Notes and 76.26% of the 2030 Notes were tendered, and the requisite consents for proposed amendments were received.
Eligible Holders who tendered by the Early Tender Date will receive $1,000 principal amount of New Crescent Notes for each $1,000 principal amount tendered, plus a $2.50 cash Consent Fee per $1,000 principal amount of Existing Vital Notes.
The Exchange Offers and Consent Solicitations are set to expire on December 30, 2025, with an expected Settlement Date of January 2, 2026.

Dec 12, 2025, 11:25 PM

Press Release

Crescent Stockholders Approve Merger with Vital Energy

CRGY

M&A

Proxy Vote Outcomes

Crescent Energy Company (CRGY) stockholders have overwhelmingly approved the issuance of Crescent Class A common stock for its proposed merger with Vital Energy, Inc. (VTLE).
Approximately 98% of the Crescent common stock voted were in favor of the Merger, which represents about 81% of the outstanding Crescent common stock.
The merger is expected to close on December 15, 2025.

Dec 12, 2025, 9:20 PM

Press Release