DALLAS, May 14, 2026 (GLOBE NEWSWIRE) -- AleAnna, Inc. ("AleAnna" or "the Company") (NASDAQ:ANNA) today announced financial and operational results for the first quarter of 2026. AleAnna reported Adjusted EBITDA[1] of $4.3 million and net income of $3.4 million. AleAnna closed the period with a strong cash position of $31.1 million, supporting ongoing development activity and future strategic initiatives.
Financial and Operational Update Following production ramp-up and stabilization at the Longanesi field during 2025, the Company recognized $8.9 million of revenue during the first quarter of 2026 from sales of its share of production from the Longanesi field.
During the first quarter, AleAnna generated net income of $3.4 million and Adjusted EBITDA[1] of $4.3 million.
During the prior year, the Company commenced daily production from its Longanesi field, with the ramp-up exceeding expectations in both timing and volume.
During the first quarter of 2026, AleAnna, also announced significant increases in Proved Reserves Volumes in its year-end 2025 Third-Party Reserves Report from DeGolyer and MacNaughton, which reported an increase of Total Proved Reserves by 47% as compared to year-end 2024 after adjusting for 2025 production volumes. Year-end Total Proved Reserves increased 37% at Longanesi and 75% at Gradizza. Proved Developed Producing reserves were recognized for the first time at Longanesi, and Total Proved Reserves were recognized at Trava for the first time. Similar increases to AleAnna's undeveloped Prospective Resource are expected, and the Company intends to issue another statement on that subject in the near future.
Management CommentaryMarco Brun, Chief Executive Officer, remarked on AleAnna's recent accomplishments: "We continued to realize strong performance from our Longanesi field generating approximately $4.3 million of Adjusted EBITDA[1]. We believe we are currently on track to exceed our expectations for the performance of the Longanesi field.
In parallel, we continue to deliver on our plan to advance our broader growth strategy. With a solid balance sheet, positive cash flow, and a growing asset base, we are well-positioned to deliver sustainable value creation for our shareholders. In the current energy environment, AleAnna is uniquely positioned to create substantial value, contributing to Italy's energy security through domestic natural gas production."
About AleAnnaAleAnna is a technology-driven energy company, focused on growing gas production in Italy and helping drive Italy's energy future. Further details can be found on our website at www.aleannainc.com/AboutAleAnna.
Forward-Looking Statements The information included herein contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain statements, other than statements of present or historical fact included herein regarding AleAnna's future operations, financial position, plans and objectives are forward-looking statements. AleAnna's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements, which speak only as of the date made. A list and descriptions of these risks, uncertainties and other factors can be found in AleAnna's most recent Annual Report on Form 10-K, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in AleAnna's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities Exchange Commission ("SEC"). SEC filings are available on the SEC's website at www.sec.gov. Except as otherwise required by applicable law, AleAnna disclaims any duty to update any forward-looking statements, all expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof.
Investor Relations ContactIvan Ronald [email protected]
Websitehttps://www.aleannainc.com/
ALEANNA, INC.CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED)FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025
For the Three Months Ended March 31,
2026
2025
Revenues
$
9,343,517
$
644,600
Operating expenses (income):
Cost of revenues
1,550,995
838,395
Lease operating expense
1,315,104
-
General and administrative
2,215,573
3,324,845
Depreciation and depletion
1,178,452
73,106
Accretion and remeasurement of asset retirement obligation
(613,688
)
33,505
Total operating expenses
5,646,436
4,269,851
Operating income (loss)
3,697,081
(3,625,251
)
Other income:
Interest and other income
139,837
237,605
Total other income
139,837
237,605
Income (loss) before income taxes
3,836,918
(3,387,646
)
Income tax (expense) benefit
(437,397
)
48,276
Net income (loss)
3,399,521
(3,339,370
)
Net (income) loss attributable to noncontrolling interests
(1,325,652
)
