Pedevco reports Q2 2026 revenue jump, reaffirms EBITDA guidance

Pedevco (AMEX: PED ) held its second-quarter earnings conference call on Thursday.

Below is the complete transcript from the call.

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View the webcast at Summary Pedevco Corp. reported a significant increase in revenue to $46.1 million for Q2 2026, driven by a fivefold year-over-year growth and a 15% sequential increase, attributed to higher oil prices and expanded production from the Juniper merger.

The company repaid $13 million of debt, reducing its revolving credit facility to $85 million, and maintained a strong balance sheet with net debt at approximately $73 million.

Pedevco plans to expand its development program, aiming to drill and participate in over 20 gross wells across its asset base, supported by a strong financial position and improved commodity prices.

The optimization program is advancing with a focus on cost reduction projects, expected to enhance operating margins and strengthen the cost structure over time.

Management reiterated full-year 2026 adjusted EBITDA guidance in the range of $60 million to $70 million, maintaining a focus on disciplined capital allocation and a strong balance sheet.

Full Transcript OPERATOR Good afternoon and welcome to Pedevco Corp.'s second quarter 2026 earnings conference call.

All participants are in listen-only mode.

After the prepared remarks, we will open the call for questions.

I would now like to turn the call over to Laurent Wau of Elevate IR.

Please go ahead.

Laurent Wau, Elevate IR Thank you, operator, and good afternoon, everyone.

Welcome to Pedevco's second quarter 2026 earnings call.

With me today are Doug Chick, President and Chief Executive Officer, R.T.

Dukes, Chief Operating Officer, and Bobby Long, Chief Financial Officer.

Before we begin, I'd like to remind everyone that today's discussion includes forward-looking statements within the meaning of the federal securities laws, subject to risks and uncertainties that could cause actual results to differ materially from expectations.

For more information, please refer to our second quarter 2026 Form 10-Q and other SEC filings.

The company undertakes no obligation to update or revise any forward-looking statements.

During today's call, we will discuss certain non-GAAP financial measures, including adjusted EBITDA and working capital excluding derivative contract assets and liabilities.

Reconciliations to the most directly comparable GAAP measures are available in our earnings release and 10-Q filing.

These non-GAAP measures should not be considered in isolation or as a substitute for GAAP results.

I would also like to note that all per-share and share count figures referenced today reflect the company's 1-for-20 reverse stock split effective March 13, 2026, applied retroactively to all periods presented.

As of June 30, 2026, the company had approximately 13.3 million shares of common stock outstanding.

Here is today's agenda.

Doug will begin with opening remarks, followed by R.T. with an operational update, and then Bobby will walk through our financial performance.

After our prepared remarks, the management team will open the call for questions.

With that, I will turn it over to Doug.

Doug Chick, President and Chief Executive Officer Thanks, Laurent, and good afternoon, everyone.

Thank you for joining us.

We are now halfway through 2026, and the second quarter provides a clear view of the earnings power of the platform we have built through the Juniper merger.

Production averaged approximately 6,800 boe per day, revenue was $46.1 million, and adjusted EBITDA was $18.7 million.

Revenue increased more than fivefold year over year and approximately 15% sequentially.

These results were ahead of our original expectations and reflect the combination of stronger realized oil prices and the expanded production base.