Presidio (FTW) Q1 2026 earnings summary

Executive summary

• Completed business combination and began trading on NYSE under ticker FTW on March 4, 2026, establishing a strong institutional investor base and fully aligned management ownership.

• Focused on acquiring, optimizing, and operating producing oil and gas assets with a disciplined, non-drilling model.

• Declared first annualized dividend of $1.35/share, with plans to increase to $1.50/share after Arkoma Basin/Canyon Creek acquisition closes.

• Launched AI-focused Asset Intelligence Group and proprietary AI platform to drive operational efficiency and production growth.

• Signed definitive agreements to acquire Canyon Creek assets for $83 million, expanding into the Arkoma Basin and demonstrating model scalability.

Financial highlights

• Q1 2026 results bifurcated due to business combination and new accounting basis; not indicative of future performance.

• Net production averaged ~22,000 BOE/d (16% oil, 57% gas, 27% NGLs); lease operating expense $9.47/BOE; capex under $1M.

• Q1 2026 total revenue was $51.9M; net loss attributable to the company was $96.8M (combined periods).

• Adjusted EBITDA for Q1 2026 was $11.2M (combined periods); Q2 2026 guidance: ~$30M adjusted EBITDA, expected to be a reasonable run rate for the remainder of 2026.

• Q1 included $47M non-cash stock-based compensation, $7M transaction costs, and $2.2M realized derivative costs, all non-recurring.

Outlook and guidance

• Expect $30M adjusted EBITDA per quarter for the rest of 2026, assuming current strip prices.

• Annualized dividend to increase to $1.50/share upon closing of Arkoma Basin/Canyon Creek acquisition.

• Asset Intelligence group targeting 3–5% production growth in 2026 without capital expenditure; 1% uplift achieved through April.

• Large, growing pipeline of acquisition opportunities, with $1.4B in bids in process and disciplined underwriting for >20% equity returns.