Sable (SOC) Reports Q1 EPS

On May 6, 2026, Sable Offshore Corp. (NYSE:SOC) reported Q1 EPS of ($1.37), versus the statement estimation of (52c). Revenue totaled $1.27M, versus the statement estimation of $8.05M. The institution said it continues progressing discussions tied to the refinancing of its Senior Secured Term Loan, which it expects to implicit during Q2 2026.

On April 22, 2026, Jefferies lowered the firm’s terms people connected Sable Offshore Corp. (NYSE:SOC) to $24 from $30 portion maintaining a Buy standing pursuing the company’s operational and fiscal update and a fireside chat hosted with CEO Jim Flores and CFO Greg Patrinely.

Earlier successful April, Sable Offshore Corp. (NYSE:SOC) provided a broader firm update covering operational, legal, and fiscal developments. The institution said the antecedently announced restart of lipid proscription done Segments 324 and 325 of the Santa Ynez Pipeline System was completed successful compliance with applicable information standards nether its pipeline integrity absorption program. Sable said 40 wells presently operating crossed Platform Harmony and Platform Heritage are producing an mean of 750 gross barrels of lipid per time per well. Once each 74 accumulation wells are online, the institution expects mean accumulation to scope astir 700 gross barrels per time per well. Platform Hondo is expected to statesman operations successful June 2026 with an estimated afloat ramped accumulation complaint of astir 10,000 gross barrels of lipid per day.

The institution besides said superior spending crossed its assets is expected to full astir $180M from April done December 2026 arsenic it focuses connected installation upgrades, attraction spending, and accumulation optimization initiatives. Sable added that it is successful discussions with some banking partners and the U.S. authorities regarding imaginable national recognition enactment tied to the planned refinancing. Concurrent with the refinancing, the institution intends to instrumentality a commodity hedging programme focused connected protecting currency travel portion preserving upside exposure. To date, Sable Offshore Corp. (NYSE:SOC) said it has sold much than 7.0M shares done its at-the-market equity program, generating astir $95M successful gross proceeds. The institution besides noted that the U.S. Department of Justice has moved to terminate oregon modify an existing Consent Decree related to litigation successful California national court, with a proceeding scheduled for June 1. Sable is not a enactment to the litigation but said it is participating successful a briefing tied to the projected changes.