Pampa Energia SA (PAM) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 13, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.51

Last Year’s EPS

2.8

Same Quarter Last Year

Analyst Consensus

―

Based on 0 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Mar 02, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call highlighted material operational progress and strong medium-term growth drivers—most notably the fast ramp-up at Rincón de Aranda (major contributor to production, reserves and EBITDA), record reserves and a stronger balance sheet (liquidity and long-dated bond). These positives are partially tempered by seasonality-driven QoQ weakness in gas and EBITDA, rising near-term CapEx leading to a planned negative cash flow and temporarily reduced distributable cash (no dividends planned), some elevated treatment/transport costs, and pending regulatory approvals (RIGI). Overall, the narrative signals substantive operational momentum and a solid financial position to fund growth, but with meaningful near-term cash outflows and execution/approval risks to monitor.

Company Guidance

Pampa guided an aggressive 2026 growth and investment program: total restricted-group CapEx of roughly $1.1bn with $770M allocated to Rincón de Aranda (≈$500M wells, remainder facilities), ~$400M for maintenance and ~ $600M for TGS’ private initiative; Q4 CapEx was $371M (up 81% YoY) with $249M to Rincón. Rincón targets: ~19,000 bpd today, 25,000 bpd by end‑March/early‑April, 27–28,000 bpd by mid‑year (28,000 bpd target via a temporary processing facility by mid‑2026) and a 45,000 bpd plateau in 2027; plan to drill 20 wells and complete 35 in Rincón (Sierra Chata: drill & complete 8), D&C cost ≈ $15M/well and EUR ≈1.1MM bbl/well. Gas guidance: Feb ~14 mcm/d, winter peak ~18 mcm/d, average ~13.5 mcm/d in 2026 (vs 12.5 in 2025) and ~40% of production expected to self‑supply power. Financial/operational outlook: consolidated 2025 EBITDA topped $1bn (+8% YoY), Q4 adjusted EBITDA $230M (+26% YoY), Oil & Gas Q4 EBITDA $77M, Power Q4 EBITDA $111M, Rincón contributed $126M in 2025; lifting costs guided ~ $10/boe (oil) and ~ $1/MMBtu (gas); proved reserves 296MM boe (+28% YoY), shale 204MM bbl (+55%), RRR 3.2x, reserve life 10.2 years. Balance sheet/cash: Q4 cash ~$1.1–1.2bn, gross debt ~ $1.9bn (‑9% YoY), net debt $801M (1.1x net leverage), avg debt life ~8 years; budgeted post‑investment free cash flow ~‑$500M, reducing cash to roughly $700M.

Strong Production Growth and Rincón de Aranda Ramp-Up

Total annual average production exceeded 84,000 boe/d (up 8% YoY and +73% since 2017). Rincón de Aranda ramped from <1,000 bpd at the start of the year to reach a 20,000 bpd goal by December; Q4 average for the field ~17,100 bpd (a 19% QoQ increase). Company target: ~28,000 bpd by mid-2026 and 45,000 bpd by 2027.

Record Reserves and Reserve Replacement

Total proven reserves rose 28% to 296 million boe; shale reserves up 55% YoY to 204 million boe. Reserve replacement ratio of 3.2x and extended average life to 10.2 years.

EBITDA Expansion and Segment Strength

Consolidated EBITDA grew 8% YoY, surpassing $1.0 billion for the year. Q4 adjusted EBITDA was $230 million (+26% YoY). Oil & Gas Q4 adjusted EBITDA was $77 million (more than doubled YoY). Power Q4 EBITDA was $111 million (+28% YoY).

Power Market Position and Availability

Pampa consolidated a 15% share of Argentina's net electricity output and achieved a 94% thermal availability rate in 2025 (91% in Q4, with scheduled maintenance and one outage). Under new market guidelines, the company captured stronger spot prices and recontracted B2B volumes (~70 MW signed across >100 contracts).

Balance Sheet Strength and Liquidity

Cash and cash equivalents stood at $1.1 billion at Q4 end (up $210 million vs. September). Gross debt nearly $1.9 billion (down 9% vs Dec 2024). Issued a $450 million 2037 bond (20-year), extending average debt life to ~8 years; net debt ~$801 million (net leverage ~1.1x).

CapEx Investment to Support Growth

2025 CapEx reached a record $1.4 billion (roughly half into Rincón de Aranda). 2026 planned allocations discussed included ~$770 million for Rincón de Aranda, ~ $400 million for maintenance across operations, and project-related CapEx (TGS/private initiatives) referenced (~$600 million). Q4 CapEx rose 81% YoY to $371 million (of which $249 million invested in Rincón).

Operational Efficiency and Cost Improvements

Lifting cost per boe averaged $8 (down vs prior year); gas lifting cost ~ $1.2/MMBtu Y/Y (flat), and oil lifting cost declined sharply to below $11/bbl in Q4 from $36 in prior-year Q4 due to Rincón ramp-up and divestments of mature blocks.

Commercial and Strategic Wins

Increased vertical integration after market deregulation: self-procurement rose to 41% in January 2026 and Plan Gas exposure fell (Plan Gas/GSAs represented 37% in Dec/Q4). First binding long-term FLNG contract signed (2 mtpa with German agency/CFA). Management expects the new resolution to drive ~10–15% uplift in power-segment EBITDA vs. 2025.

Pampa Energia SA (PAM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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PAM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 13, 2026	2026 (Q1)	0.51 / -	2.8	―	―	―
Mar 02, 2026	2025 (Q4)	0.93 / 3.00	1.9	57.89% (+1.10)
Nov 04, 2025	2025 (Q3)	1.49 / 0.40	2.7	-85.19% (-2.30)
Aug 06, 2025	2025 (Q2)	1.24 / 0.70	1.8	-61.11% (-1.10)
May 12, 2025	2025 (Q1)	0.84 / 2.80	4.9	-42.86% (-2.10)
Mar 05, 2025	2024 (Q4)	0.24 / 1.90	-3.586	152.98% (+5.49)
Nov 06, 2024	2024 (Q3)	1.47 / 2.70	2.8	-3.57% (-0.10)
Aug 07, 2024	2024 (Q2)	2.12 / 1.80	3.01	-40.20% (-1.21)
May 07, 2024	2024 (Q1)	1.32 / 4.90	2.56	91.41% (+2.34)	―	―
Mar 06, 2024	2023 (Q4)	2.36 / -3.59	2.05	-274.93% (-5.64)	―	―

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

PAM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Mar 02, 2026	$78.48	$75.26	-4.10%
Nov 04, 2025	$87.48	$87.44	-0.05%
Aug 06, 2025	$77.52	$82.66	+6.63%
May 12, 2025	$81.26	$83.73	+3.04%

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 Pampa Energia (PAM) report earnings?

Pampa Energia (PAM) is schdueled to report earning on May 13, 2026, After Close (Confirmed).

What is Pampa Energia (PAM) earnings time?

Pampa Energia (PAM) earnings time is at May 13, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

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What is PAM EPS forecast?

PAM EPS forecast for the fiscal quarter 2026 (Q1) is 0.51.