Sable Offshore Reports Q3 2026 Results, Cuts Second-Half Sales Guidance
Sable reported revenue of $154.4 million and a net loss of $269.3 million, largely attributed to derivative losses. It said an October purchaser curtailment hurt operations and reduced second-half sales guidance, renewing substantial doubt about liquidity and its ability to continue as a going concern. Platform Hondo is nearing startup.
Sable Offshore Corp. announced its financial results for the third quarter of 2026, reporting revenue of $154.4 million and a net loss of $269.3 million, largely attributed to derivative losses. The company noted that a purchaser's curtailment in October has negatively impacted its operations, leading to a reduction in its sales guidance for the second half of the year. Management highlighted that these developments have renewed substantial doubt regarding the company's liquidity and ability to continue as a going concern.
Despite these challenges, the company reported that Platform Hondo is nearing startup and that it is actively pursuing sales diversification strategies.