Sable (SOC) Reports Q1 EPS of ($1.37) Missing Estimates

AI Summary

Sable Offshore Corp. (SOC) reported a Q1 EPS of ($1.37), missing the consensus estimate of $0.52. Revenue for the quarter was $1.27M, significantly below the expected $8.05M. The company is actively working on refinancing its Senior Secured Term Loan, projected to be completed in Q2 2026. Sable anticipates an average production of approximately 700 gross barrels of oil per day per well once all 74 production wells are operational, alongside an expected capital spending of $180M through December 2026.