Diversified Energy Files Camino Acquisition Financials: $381M FY2025 Net Income, Pro Forma Combined Results
DEC is trading near its 52-week low of $12.33 (12% above the low).
Summary
Diversified Energy filed the required financial statements and pro forma information for its $1.175 billion Camino acquisition, showing Camino earned $381M in FY2025 and pro forma combined FY2025 net income of $503.7M.
Key Events · M&A and Partnerships · DEC
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Camino Financials Filed
Audited FY2025 financials show Camino Natural Resources Holdings generated $381.0M net income on $665.2M revenue, with $358.2M attributable to Camino Holdings.
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Pro Forma Combined Results
Pro forma combined FY2025 net income of $503.7M includes Camino, Canvas, and Maverick transactions; Q1 2026 pro forma shows a $180.9M net loss driven by $548.4M in derivative losses.
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Camino Q1 2026 Performance
Camino reported a Q1 2026 net loss of $46.6M, with $109.2M in derivative losses offsetting $174.2M in revenue.
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Acquisition Structure Detail
The $1.175B Camino deal was funded via $895M in ABS notes issued by an SPV (Carlyle 60%, DEC 40%), plus $55M DEC equity contribution and $170M for undeveloped acreage.
Analysis · DEC · Energy & Transportation
This 8-K/A completes the disclosure requirements for the $1.175 billion Camino acquisition that closed July 2, 2026. The newly filed audited financials show Camino generated $381.0 million in net income for FY2025, while the pro forma combined statements reveal DEC's FY2025 net income would have been $503.7 million with all three recent acquisitions (Camino, Canvas, Maverick) included. The pro forma data also shows Q1 2026 would have been a $180.9 million net loss, driven largely by derivative losses. This gives investors their first complete look at the financial impact of DEC's aggressive acquisition strategy.
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In the 30 days to Nov 2, 2026, 32.7% of the 1910 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, DEC was trading at $13.84 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $12.33 to $18.90. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.