Crescent Energy Q1 beats expectations; record production 341 MBoe/d, $192M levered FCF

Crescent Energy Co

Net loss $419M, adjusted net income $175M; operating cash flow $409M, levered FCF $192M.
Record average production 341 MBoe/d (41% oil); $385M capex, 37 wells brought online.
Executed $690M 2.75% convertible bond; called $500M 9.25% notes due 2028.
Completed two Eagle Ford minerals acquisitions for ~$355M cash in Q1.
Dividend $0.12/share payable June 1, 2026; $336M remaining on buyback program.

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