Earnings season is in full swing, and we have seen some exciting updates from various companies in the energy sector. In this blog post, we will provide an overview of the recent earnings releases from MPC, DD, ALSN, CBT, CRGY, and FANG, highlighting the key takeaways and implications for investors.

MPC:
MPC’s earnings release was a significant highlight of the week, with the company expecting to spend $1.5 billion on capital expenditures in 2026, which is $2.9 billion higher than previously guided. This increase is primarily due to the company’s focus on organic growth, with MPLX highlighting $2.9 billion of organic growth capital. Additionally, MPC reported 4Q throughput guidance of 3,080 mbpd, which is higher than the Street’s estimate of 2,923 mbpd. This news has led to a 5% implied move in the stock, with the desk crowded long into the print.

DD:
DD’s earnings release was a mixed bag, with the company reporting Q3 EPS of $2.09, which was lower than the $1.80-1.90 guidance range. However, the company’s revenue of $2.87 billion was higher than the $1.835 billion guidance range, and EBITDA beat expectations at $469 million versus $448 million. For Q4, DD guided for EPS of $1.90-1.95, which is lower than the $1.87 guidance range, but the company did update its full-year guidance accordingly.

ALSN:
ALSN’s earnings release was a bright spot in the energy sector, with the company reporting Q3 EPS of $2.90, which was higher than the $2.32 consensus estimate. Additionally, the company’s revenue of $1.53 billion was higher than the $1.47 billion consensus estimate, and EBITDA beat expectations at $400 million versus $385.2 million. For FY, the company raised its adj EBITDA guidance to $1.53-$1.58 billion, and narrowed its net income guidance to $645-$685 million.

CBT:
CBT’s earnings release was more mixed, with the company reporting Q4 adj EPS of $1.61, which was lower than the $1.55 consensus estimate. However, the company’s net sales and operating revenue beat expectations at $1.01 billion versus $927.4 million, and the company guided for 2027 EPS of $6.15-$6.75, which is lower than the $7.01 consensus estimate. The company also announced that it expects to maintain solid margins while managing volatile energy input costs and competitive pressures.

CRGY:
CRGY’s earnings release was a positive one, with the company reporting 3Q adj EBITDA of $786 million, which was higher than the $726 million consensus estimate. Additionally, the company reported 3Q adj EPS of $0.77, which was higher than the $0.59 estimate. The company’s production of 328 MBOE/d was in line with Street expectations, and the company increased its Permian synergy target to over $300 million, with $295 million captured to date.

FANG:
FANG’s earnings release was another positive one, with the company reporting 3Q adj EPS of $5.86, which was higher than the $5.73 consensus estimate. Additionally, the company’s production of 1034 MBOE/d was higher than Street expectations, and the company increased its oil guidance for 2026 to 524 MBO/d, which is higher than the prior guidance of 522 MBO/d. The company also announced that it repurchased $251 million of stock during the quarter.