Sable Offshore’s quarterly loss widens to $269.322 million in the third quarter
Key Facts
Sable Offshore posted a net loss of $269.322 million in the third quarter of 2026, compared with a loss of $110.378 million in the same period of 2025, according to its quarterly filing with the U.S. Securities and Exchange Commission. Basic and diluted loss per share was $1.37, versus $1.11 a year earlier. The company generated total revenue of $154.370 million during the quarter. It also recorded an operating loss of $41.633 million. The results put the period’s losses and operating revenue at the center of the company’s quarterly performance.
The quarterly net loss exceeded the loss in the comparable period, while loss per share rose from $1.11 to $1.37, according to figures in the report. At the operating level, the company recorded a loss of $41.633 million despite generating revenue of $154.370 million. The gap between revenue and operating loss shows that revenue did not prevent an operating loss during the quarter. Net loss differs from the operating loss reported, as it includes other items in addition to operating results. Among the most notable of those items were the derivative loss and interest expense recorded during the period.
Sable disclosed a net derivative loss of $168.651 million in the third quarter, in addition to interest expense of $41.370 million. The report lists both items among other expenses for the period. The derivative loss came alongside the operating loss of $41.633 million, while interest expense added a further financial burden. The final net loss was $269.322 million, according to the quarterly statements. These items detail factors accompanying the company’s negative result for the quarter, without changing the amount of revenue reported.
The company had reported second-quarter 2026 revenue of $137.1 million, with average net daily sales of about 21 thousand barrels, according to its earnings announcement for that quarter. In an operational update dated September 28, 2026, Sable said September sales were expected to be about 34 thousand gross barrels per day. It said at the time that it was working to address third-party sales constraints that emerged in the second half of August and September. These disclosures provide operational context ahead of the third-quarter results, which showed revenue of $154.370 million. The second-quarter figures and September outlook remain tied to the periods specified by the company in its disclosures.
Before the third-quarter results were released, SOC shares closed at $1.93 on November 6, 2026, according to EL7 data. That closing price preceded the company’s announced results release and therefore does not reflect the stock’s movement after the announcement. Sable said it planned to release its third-quarter financial and operating results before the market opened on November 9, 2026. It also announced a call to discuss the results that day at 11:00 a.m. Eastern Time. The company scheduled the call to discuss the quarterly results with the market after their publication.