-- Advantage Energy (AAV.TO) after trade Thursday said it swung to a first-quarter profit while natural gas and liquids sales declined year-over-year.
The natural-gas focused Western Canadian producer earned $29.5 million, or $0.17 per share, in the period, compared with a loss of $29 million, or $0.17, a year ago. FactSet expected $0.27 per share.
Natural gas and liquids sales fell to $206.9 million from $221.8 million a year prior. FactSet projected sales of $210.6 million.
"Advantage is entering a period of highly efficient growth and escalating free cash flow, with less than $100 million of capital planned for the second half of 2026. Production is anticipated to average approximately 90,000 boe/d from Q3 2026 through 2027," the company said, adding that it expects to reduce net debt to $400 million to $500 million in the second half of 2026, supported by hedging and market diversification even if natural gas prices stay weak.
The results are for Advantage Energy only and exclude its subsidiary Entropy, according to the statement.
Advantage shares closed down $0.01 to $10.33 on the Toronto Stock Exchange.