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Ecopetrol (EC)
NYSE:EC
Earnings Data
Report Date
May 12, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.41Last Year’s EPS
0.41Same Quarter Last Year
Moderate Sell
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a broadly positive operational and financial performance: key targets were met or exceeded (production, transportation, refining throughput, reserves replacement, renewables capacity) and efficiency programs delivered significant savings and improved margins. At the same time, material headwinds — notably a ~15% drop in Brent, tax and regulatory disputes (DIAN VAT), external events and FX/tax pressures — weighed on net income and create notable financial and operational risks. Overall, management demonstrated resilience, retained strong liquidity and a disciplined capital plan while outlining continued investments in hydrocarbons and energy transition.Company Guidance
Strong EBITDA and Margin Resilience
EBITDA of COP 46.7 trillion with an EBITDA margin aligned with the annual target of 39%, supported by refining recovery, Transportation stability and efficiency programs.
Production, Transportation and Refining Operational Targets Met
Average production of 745,000 barrels per day; transportation throughput above 1.1 million barrels per day; refining throughput ~417,000 bpd (annual 470,000 bpd reported) — all within or in line with targets.
Record and Improved Margins in Refining
Gross refining margin increased 32% year-over-year from $9.9 to $13.1 per barrel; refining EBITDA rose 20% to COP 2.7 trillion.
Reserves Replacement and 1P Reserves Growth
Reserves replacement ratio of 121% (highest in 4 years); 1P reserves reached 1.944 billion boe, driven by organic growth and a 314 million barrel crude incorporation (1.6x annual production).
Exploration Execution Above Target
Drilled 16 wells in 2025 versus a 10-well target (60% above target); achieved a 3-year average exploration success rate of 44%, outperforming industry averages.
Energy Transition and Renewables Progress
Renewable capacity reached ~951 MW, exceeding the 900 MW target; operating capacity rose 94% (186 MW to 381 MW); Windpeshi (205 MW) reached FID and Cartagena PEM electrolyzer (800 t/yr green H2) started installation.
Efficiency Program and Cost Improvements
Profitability and efficiency programs delivered ~COP 6.6 trillion (1.3x the adjusted annual target of COP 5 trillion); efficiencies contributed ~COP 3.6 trillion to EBITDA; CapEx efficiencies COP 2 trillion and OpEx COP 1.8 trillion saved.
Unit Cost and Lifting Cost Reductions
Total unit cost for Hydrocarbons at $46/bbl, down $1.7 (3.4%) vs 2024; lifting cost $12.2/bbl, $0.3 lower than 2024; drilling and completion efficiencies > $139 million.
Strong Cash Generation and Liquidity
Consolidated cash position of COP 12.7 trillion and free cash flow of COP 11 trillion for 2025; executed $6.3 billion in organic investment within plan range.
Social and Environmental Achievements
Reduced 561,000 tons CO2e (165% of annual target); Gold Standard methane recognition; water reuse 181 million m3 (82% of water used, +10% vs 2024); energy optimization 4.79 PJ (1.6x annual target).
Shareholder Returns and Dividend Proposal
Transferred COP 35 trillion to the nation (dividends, taxes, royalties) and Board proposed dividend of COP 110 per share (50% of net income); total shareholder return 24% locally and 39% for US shareholders.
EC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
EC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 04, 2026 | $11.59 | $12.61 | +8.80% |
Nov 14, 2025 | $10.01 | $10.39 | +3.80% |
Aug 12, 2025 | $8.53 | $8.56 | +0.35% |
May 06, 2025 | $7.88 | $7.91 | +0.38% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Ecopetrol (EC) report earnings?
Ecopetrol (EC) is schdueled to report earning on May 12, 2026, After Close (Confirmed).
What is Ecopetrol (EC) earnings time?
Ecopetrol (EC) earnings time is at May 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EC EPS forecast?
EC EPS forecast for the fiscal quarter 2026 (Q1) is 0.41.