YPF Sociedad Anónima (YPFD) Earnings Call Transcripts

YPF Sociedad Anónima's Latest Earnings Call - Q1 FY2026

YPF Sociedad Anónima reported strong Q1 2026 results with revenues of $4.95 billion, a 9% QoQ increase, and a 7% YoY rise, driven by higher international prices and local demand. Adjusted EBITDA hit a record $1.6 billion, with a 32% margin, up 24% sequentially and 28% annually. The company maintained its full-year guidance, expecting capital expenditures between $5.5 billion and $5.8 billion. Management highlighted operational efficiencies and strategic agreements, notably with Halliburton, to enhance shale oil production.

Reported metrics

Guidance from management

YPF maintained its full-year guidance for capital expenditures between $5.5 billion and $5.8 billion, expecting to accelerate capital deployment in upcoming quarters.

What management said

In the North, we have Sorry, yes. In the -- you know that we have what we call North,abcore and Score. Score, we have all that, and we are going to present Rei, I think, next week. But this is the big, big, big Re. For the North, we are working -- we have more partners. In the South, we are 100%. We are working with our partners to have the Rei and to start. And so after that, we have always to make our projection...

Vic as I tell before, the north part is not where we are in 100%. So we are now negotiating with our partners, and I'm very positive that we will reach very soon, I would say, a development phase and how to develop. And after we will present the ring. And for sure, next year, we will start derisking that part. We need that because at the end of that, we have to develop very well all that, not to have child and als...

What analysts pressed on

Analysts questioned the sustainability of local fuel pricing strategies amid high international prices and the potential impact on margins. Concerns were also raised about the pace of drilling and completion activities in Q1.

Main topics on the call

• Revenue Growth — Revenues reached $4.95 billion, up 9% QoQ and 7% YoY, driven by higher international prices and strong local demand. Management noted, 'Revenues were $4.95 billion, growing 9% quarter-over-quarter.'
• Record Adjusted EBITDA — Adjusted EBITDA was $1.6 billion, marking the highest first quarter level in YPF's history with a 32% margin. This was attributed to higher shale oil production and improved pricing dynamics.
• Shale Oil Production — Shale oil output reached 205,000 barrels per day, a 5% increase from last quarter and 39% YoY growth. Management is on track to meet the full-year target of 215,000 barrels per day.
• Operational Efficiencies — YPF achieved new fracturing records and signed a strategic agreement with Halliburton for electrical fracturing technology, enhancing efficiency and reducing costs.

Read the full YPF Sociedad Anónima transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 26 YPF Sociedad Anónima earnings call transcripts on record, spanning March 6, 2020 to August 11, 2026. Based on this history, YPF Sociedad Anónima reports quarterly. The most recent call on file is dated August 11, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

YPFD

Exchange

BASE

Country

AR

Sector

Energy

Industry

Oil, Gas and Consumable Fuels

Calls on record

26

First call

March 6, 2020

Most recent

August 11, 2026

Reporting cadence

quarterly