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Harbour Energy (GB:HBR)
LSE:HBR
Earnings Data
Report Date
Aug 20, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.23Last Year’s EPS
0.17Same Quarter Last Year
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a largely positive operational and strategic picture: record production, materially lower unit operating costs, strong operating cash flow and free cash flow in 2025, and decisive portfolio upgrades (Waldorf, Indonesia sale, LLOG) that position the company for higher-margin, lower-tax growth in the U.S., Norway, Argentina and Mexico. Management set a clear distribution framework tied to cash flow and outlined plans to delever after the LLOG acquisition. Key near-term challenges are the jump in net debt post-acquisition, material one-off impairments and FX losses that produced a reported loss after tax, elevated cash taxes, higher near‑term OpEx from LLOG, and some operational safety and G&A pressures. On balance, the company highlights stronger long‑term free cash flow and portfolio quality improvements that outweigh the near‑term financial and integration headwinds.Company Guidance
Record Production
Group production reached a record 474,000 barrels per day in 2025, up more than 80% year-over-year, driven by full-year contribution from Wintershall Dea and strong execution across the expanded portfolio.
Improved Unit Operating Costs and Margins
Unit OpEx fell to $12.8–$13 per BOE in 2025 (management cited both $13 and $12.8/BOE), a reduction of ~20–22%, supporting materially improved margins and earnings.
Strong Free Cash Flow and Operating Cash Generation
Operating cash flow was $7.3 billion in 2025 with free cash flow generation of $1.1 billion (beating guidance), enabling shareholder distributions and debt reduction.
Material Revenue and Adjusted EBITDAX Growth
Revenue increased 65% and adjusted EBITDAX rose 77% year-over-year, reflecting higher production and stronger gas realizations (European gas realized above benchmarks).
Strategic M&A and Portfolio Upgrading
Completed or announced three strategic transactions: Indonesia sale for $215 million (removes mature higher-cost volumes), Waldorf acquisition for $170 million (unlocks ~$900 million value via tax losses and released $350 million trapped cash), and closing of the LLOG acquisition (~$3.2 billion) to add a U.S. Gulf oil-weighted growth platform.
U.S. Gulf Growth Platform
LLOG adds scale with >350 million boe of 2P/2C reserves/resources and ~0.5 billion boe prospective resources; group production guidance raised to 475,000–500,000 BOE/d and U.S. Gulf production expected to double by 2028, with development wells showing internal rates of return in excess of 40%.
Portfolio Geographic Rebalancing
Company is repositioning to five core countries (Norway, U.K., Argentina, Mexico, U.S.), shrinking footprint in Southeast Asia and shifting toward higher-margin, lower-tax jurisdictions to improve after-tax margins and cash flow over time.
Distribution Policy Aligned to Cash Flow
Introduced a revised distribution policy targeting 45%–75% of annual free cash flow (initial base dividend of $0.161/share ≈ $300 million; board proposed final dividend $0.0805/share ≈ $150 million for 2025), linking payouts to leverage and cash generation.
Project and Resource Progress
Delivered Norway Maria Phase 2 on time and within budget; Dvalin North on track for mid‑2026; Omega Sor discovery (24.5% share) estimated 25–89 million boe gross; Mexico Zama and Kan advancing with FEED planned this year and phased development to lower breakevens.
Hedging and Risk Management
Maintains two-year hedging framework (target ~50% year 1, 30% year 2) and has actively used collars/swaps during recent volatility to protect downside while preserving upside, with recent opportunistic gas collars locked in around $14–$15/Mcf floors.
GB:HBR 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
GB:HBR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 05, 2026 | 260.60 p | 285.40 p | +9.52% |
Aug 07, 2025 | 195.85 p | 213.31 p | +8.91% |
Mar 06, 2025 | 192.15 p | 170.06 p | -11.50% |
Aug 08, 2024 | 246.42 p | 255.00 p | +3.48% |
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 Harbour Energy (GB:HBR) report earnings?
Harbour Energy (GB:HBR) is schdueled to report earning on Aug 20, 2026, TBA (Confirmed).
What is Harbour Energy (GB:HBR) earnings time?
Harbour Energy (GB:HBR) earnings time is at Aug 20, 2026, TBA (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 the P/E ratio of Harbour Energy stock?
The P/E ratio of Harbour Energy is N/A.
What is GB:HBR EPS forecast?
GB:HBR EPS forecast for the fiscal quarter 2026 (Q2) is 0.23.