BKV Corporation (BKV) Earnings
BKV Corporation is expected to report next earnings on August 11, 2026 (in NaN days), with a consensus EPS estimate of $0.25. BKV has beaten EPS estimates in 3 of its last 5 reported quarters (average surprise +68.2% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.36 | $0.22 | -38.9% | $433M | +28.2% |
| Feb 25, 2026 | $0.37 | $0.29 | -21.6% | $241M | -29.1% |
| Aug 12, 2025 | $0.15 | $0.39 | +160.0% | $204M | -17.0% |
| May 9, 2025 | $0.15 | $0.41 | +173.3% | $231M | +3.1% |
| Feb 26, 2025 | $-0.10 | $0.01 | +110.0% | $174M | -18.6% |
| Jun 30, 2024 | — | $-0.71 | — | $138M | — |
| Mar 31, 2024 | — | $-0.46 | — | $155M | — |
| Dec 31, 2023 | — | $0.35 | — | $739M | — |
| Sep 30, 2023 | — | $0.22 | — | $182M | — |
| Jun 30, 2023 | — | $-0.42 | — | $151M | — |
| Dec 31, 2022 | — | $1.22 | — | $1.7B | — |
| Sep 30, 2022 | — | $0.88 | — | $573M | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Entered 2026 with strong momentum across business, first quarter marked meaningful step forward. - Strengthened commercial platform by assuming control of substantial portion of gas marketing and trading activities, expecting to fully market own volumes by mid-2026. - Upstream business outperformed expectations, production trending toward upper end of guidance range, capital spending in line with plan. - Carbon capture platform scaling, Cotton Cove and Eagleford projects progressing, Barnett Zero serving as proof point. - Power business has strong momentum in commercial discussions from data center developers and hyperscalers, with modular power, private use network, and potential Temple 3 power plant as components of solution. - Utilizing advanced completions, longer laterals, and AI/data-driven optimization in upstream, seeing improvements in production costs, completions, and inventory quality.
Guidance
- Maintaining full year based business outlook: Production remains at 915 to 955 MMCFE per day, capital spending of 290 to $400 million, power JV adjusted EBITDA of 135 to $175 million. - Expect power growth capital and investments to be in range of 280 to 340 million for full year, higher investment driven by ongoing negotiations related to modular power generation equipment, deposits, etc. - Total net BKB funded capital investments expected to be in range of 485 to $635 million. - Expect strong upstream performance, solid contribution from existing power platform, and disciplined advancement of broader growth opportunities.
Segment performance
Upstream: Production ~925 million cubic feet equivalent per day towards upper end of guidance; development capital ~$82 million, slightly below midpoint; lease operating and work over expense ~54 cents per MCFE at upper end of guidance. Carbon Capture: Cotton Cove commenced commercial sequestration operations in April, expected to sequester ~32,000 metric tons of CO2 per year; Eagleford CCUS project on track to commence injection before end of Q2, forecasted to sequester ~90,000 metric tons of CO2 per year; Barnett Zero operated at >99% runtime, sequestered ~35,800 metric tons of CO2. Power: Delivered nearly 2,000 gigawatt hours of generation, capacity factor 62%, power prices averaging $51 per megawatt hour, gross power JV adjusted EBITDA $20 million after absorbing additional $4 million of allocated corporate GNA.
Analyst Q&A
Q: Betty Jean with Barclays asked about strategic growth capital in power, uses of incremental investments, timing of securing modular units, and if it's first phase of multi-phase power supply framework.
A: David Tamarin and Chris Cowan responded discussing capital increase for modular equipment, phase approach, and details on modular units and infrastructure spend.
Q: Scott Gruber with Citi asked about own versus lease option on modular power gen assets and color on upstream new completion design.
A: Chris Cowan and Eric Jacobson responded talking about ownership for flexibility, application of advanced completions in upstream, and timelines for sharing results of upper Barnett well fracking.
Q: Jonathan Mardini with KeyBank asked about strategic spend maintaining optionality for post-contract growth.
A: David Tameron responded discussing net capex, funding, and flexibility, with Chris Cowan adding on private use network regulatory path.
Q: Jacob Roberts with TPH asked about spend on 200 megawatts modular in 2027 and long-term leverage targets.
A: Chris Cowan and David Tameron responded talking about timeline contingent on PPA signing and thoughts on long-term leverage targets.
Q: Michael Ferrell with Pickering Energy Partners asked about why now for gas marketing integration and long-term leverage targets.
A: Chris Cowan responded discussing critical mass, global market dynamics, and one-stop shop opportunity, with David Tameron talking about leverage ranges and refinancing opportunities