Matador Resources beats Q1 adjusted EPS estimates, lifts 2026 production guidance

Matador Resources

06/05/2026 21:34

Overview

U.S. oil and gas producer's Q1 production rose 5% yr/yr, exceeding guidance

Adjusted EPS and adjusted net income for Q1 beat analyst expectations

Company raised full-year 2026 production guidance, reaffirmed capital spending outlook

Outlook

Matador raises 2026 oil production guidance to 123,000-125,000 bbl/day from 122,000-124,000

Company lifts 2026 total production guidance to 210,500-216,000 BOE/day from 209,500-215,000

Matador expects access to Hugh Brinson pipeline by year-end 2026 to reduce Waha price exposure

Result Drivers

NEW WELL PERFORMANCE - Strong early performance of new wells turned to sales in Q1 exceeded initial expectations by about 2,600 barrels of oil per day

OPERATIONAL EFFICIENCIES - Cost-saving initiatives such as electric and hybrid-electric fracturing fleets and multi-well completions helped mitigate inflationary pressures and maintain cost guidance

MIDSTREAM INTEGRATION - Coordination with San Mateo and Matador's midstream assets provided flow assurance and helped offset negative impacts from weak Waha natural gas pricing

Company press release: ID:nBw3xVc6Sa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Beat
$1.53
$1.27 (18 Analysts)
Q1 EPS
-$0.29
Q1 Adjusted Net Income
Beat
$189.5 mln
$136.93 mln (15 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 5 "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 Matador Resources Co is $72.00, about 14.4% above its May 5 closing price of $62.93

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 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.)