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BKV Q3 adjusted EPS misses estimates, revenue rises

By Reuters News


Overview

  • US natural gas producer's Q3 total revenues rose 4.8% yr/yr

  • Adjusted EPS for Q3 missed analyst expectations

  • Company announced expanded modular power development agreement with leading AI lab


Outlook

  • BKV forecasts Q4 2026 capital expenditures of $315 mln to $385 mln

  • Company expects Q4 2026 net production of 1,010 to 1,030 MMcfe/d

  • BKV projects Q4 2026 Power Adjusted EBITDAX of $10 mln to $30 mln


Result Drivers

  • UPSTREAM PRODUCTION OUTPERFORMANCE - Co said upstream-midsream segment outperformed guidance due to new well development and base decline management, with additional production from Barnett acquisition

  • POWER SEGMENT RELIABILITY - Co reported high operational reliability at Temple I and II power facilities, with a combined capacity factor of 71.7% and availability factor of 96%

  • LOWER POWER PRICES - Co noted that despite record demand, wholesale power prices and spark spreads were below expectations due to increased renewable generation and battery storage


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Total Revenues and Other Operating Income

$478.37 mln

Q3 Adjusted EPS

Miss

$0.36

$0.50 (8 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

  • Wall Street's median 12-month price target for BKV Corporation is $35.00, about 83.2% above its November 4 closing price of $19.10

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 14 three months ago


Reuters Recommended Reads

  • Nov 2 - Williams Q3 adjusted EPS misses estimates

  • Nov 4 - Gulfport Energy Q3 revenue beats estimates on higher liquids production

  • Nov 2 - Diamondback Energy boosts production forecast amid elevated oil prices


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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