SHARPE
Reported results
- Total revenues (GAAP) was $357.2 million for third-quarter 2026, compared to $250.3 million for third-quarter 2025.
- Net income (GAAP) was $47.3 million for third-quarter 2026, compared to $34.5 million for third-quarter 2025.
- Net cash provided by operating activities (GAAP) was $117.7 million for third-quarter 2026, compared to $75.9 million for third-quarter 2025.
- Non-GAAP Adjusted EBITDA was $197.3 million for third-quarter 2026, compared to $160.3 million for third-quarter 2025.
- Non-GAAP Distributable Cash Flow was $127.1 million for third-quarter 2026, compared to $103.8 million for third-quarter 2025.
- Non-GAAP Distributable Cash Flow Coverage Ratio was 1.67x for third-quarter 2026, compared to 1.61x for third-quarter 2025.
Guidance
- Full-Year 2026 non-GAAP Adjusted EBITDA guidance is $770,000 thousand to $780,000 thousand.
- Full-Year 2026 non-GAAP Distributable Cash Flow guidance is $495,000 thousand to $505,000 thousand.
- Full-Year 2026 expansion capital expenditures guidance is $230,000 thousand to $250,000 thousand.
- Full-Year 2026 maintenance capital expenditures guidance is $60,000 thousand to $70,000 thousand.
Price and volatility reaction
The stock moved +3.5% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -2.4 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 24.8 | 2026-11-02 |
| Close after release | 25.67 | 2026-11-03 |
| Realised move | +3.5% | close to close |
| 30d ATM IV change | -2.4 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.