Magnolia Oil & Gas Q1 revenue rises, beats estimates

Magnolia Oil & Gas

06/05/2026 21:23

Overview

U.S. oil and gas producer's Q1 revenue rose and beat analyst expectations

Adjusted EPS for Q1 was flat yr/yr at $0.54

Company completed $155 mln in bolt-on acquisitions and repurchased $51.9 mln in stock

Outlook

Company sees Q2 production at about 105 Mboe/d

Magnolia reiterates full-year 2026 production growth guidance of about 5%

Company maintains 2026 capital spending guidance at $440 mln to $480 mln

Result Drivers

PRODUCTION GROWTH - Q1 total production volumes rose 6% yr/yr, with oil production up 4%, driven by recovery from earlier weather impacts and continued well performance

ACQUISITIONS - Multiple bolt-on acquisitions in Karnes and Giddings added 6,200 net acres and about 500 boe/d, increasing working interest and extending development inventory

CAPITAL DISCIPLINE - Maintained two-rig, one completion crew program and focused capital on multi-well pads in Giddings, supporting consistent production growth and high margins

Company press release: ID:nBw5Xvb0Ga

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$358.50 mln
$345.20 mln (15 Analysts)
Q1 EPS
$0.54
Q1 Net Income
$100.80 mln
Q1 Adjusted EBITDA
$252.90 mln
Q1 Capex
$128.70 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for Magnolia Oil & Gas Corp is $33.00, about 6.9% above its May 5 closing price of $30.86

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 16 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)