Pedevco stock rises nearly 3% despite earnings and revenue miss in third quarter

HOUSTON - On Monday, Pedevco Corp. (NYSE American:PED) reported third-quarter results that fell short of analyst expectations, as investors appeared to focus on the company’s ongoing drilling activities and recent acquisitions.

The company’s shares gained 2.77% in pre-market trading following the results.

The energy company reported breakeven earnings per share for the third quarter of 2025, missing analyst estimates of $0.01 per share. Revenue came in at $7.0 million, below the consensus forecast of $7.62 million and down 23% from $9.1 million in the same quarter last year. The company’s production averaged 1,471 barrels of oil equivalent per day (BOEPD), a 13% decrease from the 1,698 BOEPD produced in Q3 2024.

The company has participated in drilling multiple wells in the D-J Basin, including eight 2.5-mile lateral non-operated wells that have begun production in the fourth quarter.

Operating expenses increased 12% compared to the same period last year, contributing to an operating loss of $834,000 for the quarter. The company reported adjusted EBITDA of $4.3 million, down from $5.7 million in Q3 2024.

Pedevco noted that its financial results do not reflect the impact of its October 31, 2025 merger with certain portfolio companies controlled by Juniper Capital Advisors, L.P., which the company described as "transformative" in a November 3 announcement.

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