EON Resources Inc. (NYSE American:EONR) reported stronger year-over-year revenue and a smaller net loss for the second quarter ended June 30, 2026. The Houston-based upstream energy company also provided an update on development activity at the Grayburg-Jackson Field in New Mexico and disclosed that it had completed late regulatory filings before the NYSE American cure deadline.
#Second-quarter financial results
Reported revenue rose to $6.49 million in Q2-2026 from $4.63 million in Q2-2025, including the effect of non-cash derivatives. Revenue excluding non-cash derivative effects increased 7.3% year over year to $4.33 million from $4.03 million and was 2.5% higher than in the first quarter of 2026.
EON Resources recorded a net loss of $692K, compared with $2.96 million a year earlier. The company described this as a 77% improvement. The income statement reported net income (loss) of $(692,584) for Q2-2026 and $(2,955,849) for Q2-2025.
Interest expense was $176K, down from $1.65 million in the prior-year quarter. EON Resources attributed the reduction to the retirement of senior debt on September 9, 2025, along with reductions in private loans and convertible notes during the year.
#Revenue and cost factors
EON Resources said revenue excluding hedging derivatives had increased during the first two quarters of 2026 alongside higher oil prices. Based on current market conditions, the company expects that measure to continue increasing in the third quarter.
The company said non-cash derivative results are linked to the oil price on the final day of a quarter and represent a hypothetical scenario in which all hedges were cancelled at quarter end. EON Resources said the effect does not represent its operations and moves inversely to oil prices: a higher oil price reduces the revenue impact, while a lower oil price increases it.
Lease operating expenses for the Grayburg-Jackson Field have a run rate of approximately $700K per month, while the South Justis Unit has a run rate of approximately $130K per month. EON Resources said ongoing general and administrative costs are currently averaging approximately $600K per month and that management expects further reductions in insurance premiums, legal fees and accounting costs.
Depletion, depreciation and amortisation increased in Q2-2026 compared with Q2-2025. The company attributed this to lower reserve estimates in its 2025 reserve report, which resulted in a higher ongoing quarterly DD&A rate. EON Resources also reported an extra charge to the fourth quarter of 2025 of approximately $1.5 million.
Under GAAP, EON Resources said many transaction-driven costs that are logically below-the-line costs are required to be classified as general and administrative expenses. The company said these costs relate to matters including acquisitions, financial instruments, carry-over matters from before its De-SPAC and other one-time filings and events. It reported approximately $300K in transaction costs in each of the quarters being compared.
#Permian Basin development
EON Resources said it believes it can continue to deliver stable production from its two core properties. The first two San Andres horizontal wells at the Grayburg-Jackson Field, in which the company maintains a 35% working interest, have entered initial flowback operations and frac-load recovery. Permanent production facilities have been installed and are operational.
The company said further milestones and interpretations will be communicated after sufficient production data is available, following technical evaluation and coordination among the working-interest parties. No production from the South Justis Unit or from the Grayburg-Jackson Field horizontal development programme is hedged.
EON Resources has approximately 20,000 leasehold acres in the Permian Basin. Its portfolio includes the 13,700 contiguous leasehold acres of the Grayburg-Jackson Field in Eddy County, New Mexico, and the 5,360 contiguous acres of the South Justis Unit in Lea County, New Mexico.
#Cash position, debt and filing status
Cash and cash equivalents increased to approximately $692K at June 30, 2026, from $130K at March 31, 2026. Based on current projections, EON Resources expects to increase its cash balance further in the third quarter. The company said higher payables and accrued liabilities reflected interest accruals related to converting deferred compensation to notes, potential bonus accruals and increased field-development activity.
Debt increased primarily because of a convertible note funded in April 2026. EON Resources also said derivative liabilities connected with non-cash hedging declined because oil prices were lower at the end of June 2026 than at the end of March 2026.
The company disclosed that its 2025 10-K and first- and second-quarter 2026 10-Q filings were late and were not compliant with NYSE American continued listing standards. The NYSE extended the cure deadline from October 15, 2026 to November 23, 2026. EON Resources said it met the deadlines by filing the 2025 10-K and both 2026 quarterly reports.
#Key Takeaways
- Q2-2026 reported revenue was $6.49 million, compared with $4.63 million in Q2-2025.
- Revenue excluding non-cash derivative effects was $4.33 million, up 7.3% year over year.
- The net loss narrowed to $692K from $2.96 million, while interest expense declined to $176K from $1.65 million.
- The first two San Andres horizontal wells began initial flowback operations and frac-load recovery, with EON Resources holding a 35% working interest.
- The company said it filed its late 2025 10-K and first- and second-quarter 2026 10-Qs before the November 23, 2026 cure deadline.
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