SHARPE
Reported results
- GAAP net income for the third quarter of 2026 was $499 million compared to $137 million in the third quarter of 2025.
- Non-GAAP Adjusted EBITDA for the third quarter of 2026 was $1.049 billion compared to $489 million in the third quarter of 2025.
- Non-GAAP Adjusted EBITDA, excluding one-time transaction-related expenses, was $1.060 billion for the third quarter of 2026.
- Non-GAAP Distributable Cash Flow, as adjusted, for the third quarter of 2026 was $588 million compared to $326 million in the third quarter of 2025.
- GAAP net income per basic common unit was $2.08 for the third quarter of 2026 compared to $0.64 in the third quarter of 2025.
- Total GAAP revenues for the third quarter of 2026 were $18,029 million compared to $6,032 million for the third quarter of 2025.
Guidance
- Expects to exceed 2026 Adjusted EBITDA guidance range of $3.5 billion to $3.7 billion.
Price and volatility reaction
The stock moved +0.5% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -0.5 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 67.5604 | 2026-11-02 |
| Close after release | 67.8653 | 2026-11-03 |
| Realised move | +0.5% | close to close |
| 30d ATM IV change | -0.5 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-11-03 (8-K, Item 2.02). Read the original filing on sec.gov.