Diversified Energy Company · NYSE:DEC
Diversified Energy — Q1 2026 Earnings Presentation
10 slides from Diversified Energy's earnings presentation, May 7, 2026
Slide 1: Diversified Energy Reports First Quarter 2026 Results
May 6, 2026 Diversified Energy Reports First Quarter 2026 Results Diversified Energy Company ("Diversified", "DEC", or the "Company") (NYSE: DEC, LSE: DEC) is pleased to announce its financial and operational results for the three months ended March 31, 2026. First Quarter and Recent Highlights Cami
Slide 2: CEO commentary and financial and operational metrics
“We are off to a terrific start in our 25th year of business. In this year of celebration and reflection of our history, I am very pleased that our teams started 2026 by delivering another strong quarterly performance, and were able to produce year-over year adjusted free cash flow growth of 157%, w
Slide 3: Camino Natural Resources acquisition and operations update
Camino Natural Resources: Carlyle Partnership in full-force, with joint acquisition of $1.175B Oklahoma asset Innovative acquisition financing structure that drives enhanced returns for shareholders and bolsters the continuation of long-term growth Non-Op Platform Continues to Provide Additional Lev
Slide 4: Per unit expenses are anticipated to improve
acquisitions. The Company’s per unit expenses are anticipated to improve as the Company implements its playbook to achieve long-term, sustainable synergies and cost savings. For example, General and Administrative expenses decreased during the three months ended March 31, 2026 compared to prior peri
Slide 5: 2026 Guidance and Conference Call Details
2026 Guidance(1) Total Production (Mmcfe/d) 1,170 to 1,210 % Liquids ~28% % Natural Gas ~72% Total Capital Expenditures (millions) Non-Op JV Partnership $135 to $155 Maintenance/Other $70 to $80 Adj. EBITDA(b) (millions) $925 to $975 Adj. Free Cash Flow (c) (millions) ~$430 Leverage Target 2.0x to 2
Slide 6: For further information, please contact
For further information, please contact: Diversified Energy Company +1 973 856 2757 Doug Kris dkris@dgoc.com Senior Vice President, Investor Relations & Corporate Communications www.div.energy FTI Consulting dec@fticonsulting.com U.S. & UK Financial Public Relations About Diversified Energy Company
Slide 7: Forward-looking statements disclaimer
its respective directors, officers, employees, agents, affiliates or advisers expressly disclaim any obligation to supplement, amend, update or revise any of the forward-looking statements made herein, except where it would be required to do so under applicable law. In light of these risks, uncertai
Slide 8: Reconciliation of net income (loss) to adjusted EBITDA
The following table presents a reconciliation of the GAAP financial measure of net income (loss) to the non-GAAP measure of adjusted EBITDA for each of the periods listed: Three Months Ended (in thousands) March 31, 2026 March 31, 2025 December 31, 2025 Net income (loss) $ (160,665) $ (322,820) $ 19
Slide 9: Free Cash Flow & Adjusted Free Cash Flow
As of (In thousands) March 31, 2026 March 31, 2025 December 31, 2025 Total debt (1) 2,887,964 2,726,807 2,952,014 LESS: Cash 54,539 32,641 29,697 LESS: Restricted cash 100,963 106,011 115,413 Net debt $ 2,732,462 $ 2,588,155 $ 2,806,904 Pro forma TTM adjusted EBITDA (2) $ 1,226,448 $ 952,107 $ 1,211
Slide 10: Adjusted EBITDA margin and total revenue reconciliation
of total revenue, excluding (gain) loss on fair value adjustments of unsettled derivatives. Adjusted EBITDA margin encompasses the direct operating costs and the portion of general and administrative costs required to produce each Mcfe. This metric includes operating expense, employee costs, adminis
Diversified Energy Company — Q1 2026 Earnings Presentation on 6ix