NYSE$USO
United States Oil Fund · Q1 2026 earnings
Q1 2026 earnings ·
Briefing
United States Oil Fund (USO) reported Q1 2026 NAV per share of $126.39, up 82.9% for the quarter on crude futures gains.
For the quarter ended March 31, 2026, USO NAV per share rose from $69.10 to $126.39, a total return of 82.91% at NAV, driven by light sweet crude futures appreciation. Total income was $57.46 per share before expenses of $0.17. The commodity pool tracks near-month oil futures plus interest on collateral.
- NAV per share $126.39 vs. $69.10 at start.
- Quarter total return 82.91% at NAV.
- Futures roll and contango affect long-term holders.
- Management fee 0.45% of average net assets.
- Creation/redemption activity remained active.
Headline financials
Revenue & EPS history
United States Oil Fund · Revenue · Quarterly
$986M
Forward guidance
Commodity ETF; no guidance. Returns follow crude oil futures and roll yield.
Tailwinds
- Strong crude rally boosted NAV.
- High liquidity for tactical oil exposure.
Headwinds
- Contango can erode long-term returns vs. spot.
- Not equivalent to buy-and-hold spot oil.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2026
+0.2%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+0.6%
Avg return
30 days after
60%
18 / 30 earnings
Positive
+4.9%
Q1 2020
Best reaction
-4.2%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.4% | +3.1% | -2.6% | |
| Q3 2025 | +0.5% | -1.5% | +1.5% | |
| Q2 2025 | -0.2% | -1.3% | -1.1% | |
| Q1 2025 | +1.5% | +4.8% | +8.8% | |
| Q3 2024 | -2.0% | -5.3% | -5.9% | |
| Q2 2024 | +0.9% | +3.9% | -7.7% | |
| Q1 2024 | +0.5% | -1.2% | -4.1% | |
| Q3 2023 | -4.2% | -4.2% | -13.1% | |
| Q2 2023 | +0.9% | +2.7% | +5.2% | |
| Q1 2023 | +2.0% | -1.5% | +2.7% | |
| Q3 2022 | -0.3% | -3.2% | -17.1% | |
| Q2 2022 | +0.0% | +3.9% | -0.1% | |
| Q1 2022 | +2.1% | -2.9% | +11.2% | |
| Q3 2021 | +3.0% | +2.5% | -12.6% | |
| Q2 2021 | -1.1% | +0.4% | +1.2% | |
| Q1 2021 | +0.0% | +1.8% | +6.4% | |
| Q3 2020 | -2.5% | +6.9% | +16.2% | |
| Q2 2020 | -1.1% | +1.3% | -5.5% | |
| Q1 2020 | +4.9% | +0.6% | +41.0% | |
| Q3 2019 | +0.9% | +0.7% | +3.7% | |
| Q2 2019 | +1.1% | +9.5% | +8.6% | |
| Q1 2019 | -0.6% | -0.2% | -12.9% | |
| Q3 2018 | -1.7% | -10.5% | -14.9% | |
| Q2 2018 | -3.2% | -2.4% | -0.6% | |
| Q1 2018 | +0.3% | +0.2% | -7.7% | |
| Q3 2017 | +3.0% | +2.1% | +0.2% | |
| Q2 2017 | -0.3% | -1.4% | -0.9% | |
| Q1 2017 | +2.1% | +4.2% | +4.2% | |
| Q3 2016 | +1.8% | -2.1% | +11.1% | |
| Q2 2016 | +0.2% | -0.7% | +4.1% |
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