XCF Global (SAFX) Shares Spike Post-1Q26 Earnings

(Houston, Texas) XCF Global (NASDAQ: SAFX) shares closed up 17.69% at $0.59 following the company’s 1Q 2026 earnings release, which included a statement announcing plans to restart operations at the company’s New Rise Reno sustainable aviation fuel (SAF) facility in June 2026, following a planned upgrade program.

Image of XCF Global’s New Rise Reno site courtesy of XCF Global.

The full report can be found here.

The company has engaged Alvarez & Marsal to provide on-site engineering and operational readiness oversight during the conversion and start-up preparation process, according to today’s press release from XCF.

The New Rise Reno upgrade program aims to improve operating stability, equipment readiness, and quality systems for certified fuel production.

Highlights from today’s release from XCF are as follows:

“Key Developments This Period

• Strengthened leadership with renewable fuels executive Chris Cooper, former President of one of the world’s largest producers of renewable fuels, where he led the launch of its SAF commercial efforts in the Americas; appointed Harvey Schnitzer as Interim Chief Financial Officer, a CPA and veteran Chief Financial Officer/Chief Operational Officer with more than three decades of experience leading growth, integrations, and turnarounds.

• Initiated the planned upgrade program to support efficient, repeatable, sustained operations at New Rise Reno, leveraging technical input from Axens and on-site engineering oversight team from an experienced third -party consulting firm to strengthen operational readiness, procedures, and start-up execution, targeting June 2026 for operational restart at New Rise Reno.

• Signed a binding offtake agreement with BGN INTL for SAF production, leveraging XCF’s production platform and BGN’s global distribution network.

• Advanced strategic initiatives, including licensing arrangements and strategic partnership agreements to support international expansion in Australia and New Zealand, with partners including Continual Renewables Ventures and Axens for production technology.

• Signed business combination agreement with Southern Energy Renewable and Devvstream creating a diversified commercial platform spanning current and next generation technologies for renewable fuel production as well as environmental asset monetization across aviation, petrochemical, marine and other sectors.

• Filed XCF’s first Annual Report on Form 10‑K, providing comprehensive annual disclosures and marking an important milestone in XCF’s public-company reporting, targeting filing 1Q26 10Q by mid-May 2026.

• XCF is targeting the following financial and operational results for the full year ending December 31, 2027: gross product sales[1] of $775 – 825 million, net revenue of $110 -120 million, EBITDA1 of $65 – 70 million, and renewable fuel production of approximately 40 – 43 million gallons.”

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