In Q4 2025, YPF generated $4.556 billion in revenue and $1.283 billion in adjusted EBITDA, supported by strong refining performance and shale oil production growth. However, the company posted a net loss of $649 million mainly due to a $1.042 billion income tax charge related to the Tax Normalization Plan. Free cash flow turned positive at $265 million during the quarter.
Q4 revenue reached $4.556 billion, down 4% year-over-year due to lower oil and gas prices.
Adjusted EBITDA was $1.283 billion, up 53% year-over-year but down sequentially due to seasonal gas weakness.
Net loss of $649 million driven primarily by $1.042 billion income tax impact.
Free cash flow turned positive at $265 million with refining utilization reaching 99%.
YPF continues advancing its unconventional development, LNG initiatives, and infrastructure expansion while maintaining financial discipline and diversified funding sources.
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