MGY

Northern Oil and Gas, Inc. NOG reported second-quarter 2026 adjusted earnings per share of $1.13, which beat the Zacks Consensus Estimate of $1.02. The outperformance reflects strong natural gas production. However, the bottom line declined from the year-ago adjusted profit of $1.37 due to weaker natural gas prices. The Minnetonka, MN-based oil and gas exploration and production company reported oil and gas sales of $671 million, beating the Zacks Consensus Estimate of $546 million. Moreover, the top line increased from the year-ago figure of $574 million, driven by higher oil price realization. Northern Oil and Gas, Inc. price-consensus-eps-surprise-chart | Northern Oil and Gas, Inc. Quote On June 1, the company closed the Duvernay Light Oil Joint Development for total consideration of $262.1 million. During the quarter, NOG completed 30 ground game transactions, adding over 2,300 net acres and an additional 6.2 net wells for $44.7 million, which was inclusive of associated development costs. During the second quarter, Northern Oil and Gas repurchased 2.95 million shares of common stock at an average price of $20.37, including commissions and increased the share repurchase authorization program to about $243 million. The second-quarter production increased 9% year over year to 145,659 barrels of oil equivalent per day (Boe/d). Additionally, the figure beat our estimate of 143,105 Boe/d. While oil volume totaled 68,275 Bopd (an 11% decrease year over year), natural gas (and natural gas liquids) amounted to 464,330 thousand cubic feet per day (a 35% increase). Our model estimate for oil volume and natural gas production was pegged at 71,300 Bopd and 415,800 thousand cubic feet per day, respectively. The average sales price for crude was $90.02 per barrel, indicating a 54% increase from the prior-year quarter’s level of $58.37. Moreover, the figure beat our expectation of $69.40 per barrel. The average realized natural gas price was $2.64 per thousand cubic feet compared with $2.89 in the year-earlier period. Our model estimate for the same was pinned at $2.32 per thousand cubic feet. Total operating expenses in the quarter decreased to $392.7 million from $530.6 million in the year-ago period. This was mainly on account of a reduction in production expenses, legal settlement expense, depletion, depreciation, amortization and accretion expenses, impairment of oil and gas assets expenses, and other expenses. The metric was below our estimate of $400.1 million. The company reported capital expenditures of $195.8 million for the second quarter, excluding non-budgeted acquisitions and other unplanned items. Of this total, $151 million was dedicated to drilling and completion activities on organic assets, while $44.7 million was allocated to Ground Game efforts, including associated development costs. During the second quarter, NOG placed 12.7 net wells into production. This Zacks Rank #3 (Hold) company’s free cash flow for the quarter totaled $159 million. As of June 30, 2026, Northern Oil and Gas had $47.6 million in cash and cash equivalents. The company had a long-term debt of $2.7 billion, with a debt-to-capitalization of 57.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. While we have discussed NOG’s second-quarter results in detail, let us take a look at three other key reports in the energy space. U.S. energy operator APA Corporation APA reported second-quarter 2026 adjusted earnings of $1.89 per share, beating the Zacks Consensus Estimate of $1.85. The bottom line rose from the year-ago adjusted profit of 87 cents. The outperformance was primarily driven by higher realized oil prices and lower year-over-year expenses. Revenues of $2.4 billion were down 8.2% from the year-ago quarter’s sales and missed the Zacks Consensus Estimate by 1.5%, caused by a decrease in natural gas revenues. As of June 30, APA had $444 million in cash and cash equivalents and $3.7 billion in long-term debt, representing a debt-to-capitalization of 34.8%. Magnolia Oil & Gas Corporation MGY reported a second-quarter 2026 net profit of 99 cents per share, which beat the Zacks Consensus Estimate of 90 cents. The bottom line more than doubled from the year-ago quarter’s 43 cents. This outperformance can be attributed to higher oil and NGL prices and growth in overall production volumes. The oil and gas exploration and production company’s total revenues were $479 million, which beat the Zacks Consensus Estimate of $440 million. The top line also increased 50.2% from $319 million recorded in the year-ago period, driven by higher revenues from oil and natural gas liquids (NGL). As of June 30, 2026, Magnolia had cash and cash equivalents of $295.9 million. The company had long-term debt of $393.6 million, reflecting a debt-to-capitalization of 15.5%. Permian Resources Corporation PR reported second-quarter 2026 adjusted earnings of 69 cents per share, beating the Zacks Consensus Estimate of 56 cents by 23.2%. The bottom line also increased significantly from the year-ago quarter’s adjusted earnings of 27 cents. This outperformance was primarily driven by higher oil and NGL price realizations. The company’s oil and gas sales of $1.86 billion beat the Zacks Consensus Estimate of $1.64 billion by 13.3%. Revenues also increased from the year-ago quarter’s $1.2 billion, aided by a higher year-over-year contribution from oil sales, NGL sales and purchased gas sales during the quarter. As of June 30, 2026, PR had $131.7 million in cash and cash equivalents. The company had a long-term debt of approximately $3 billion, reflecting a debt-to-capitalization of 20%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Northern Oil and Gas, Inc. (NOG) : Free Stock Analysis Report APA Corporation (APA) : Free Stock Analysis Report Magnolia Oil & Gas Corp (MGY) : Free Stock Analysis Report Permian Resources Corporation (PR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Helmerich & Payne, Inc. HP reported a third-quarter fiscal 2026 adjusted net loss of 11 cents per share, in sharp contrast with the Zacks Consensus Estimate of adjusted net income of 11 cents. Moreover, the bottom line decreased considerably from the year-ago quarter’s reported profit of 22 cents. This was primarily due to an adjustment made for a gain of $115 million related to the sale of Utica Square and lower-than-expected performance of the company's North America Solutions segment. Operating revenues of $1 billion beat the Zacks Consensus Estimate of $988 million. Sales from Drilling Services beat the consensus mark by 4.4%. However, the figure decreased by $6 million from the year-ago quarter’s level. This was primarily caused by lower year-over-year revenues from the North America Solutions and International Solutions segments. Helmerich & Payne, Inc. price-consensus-eps-surprise-chart | Helmerich & Payne, Inc. Quote The company distributed approximately $25 million to its shareholders as part of its ongoing dividend program. North America Solutions: Operating revenues of $562.9 million were down 5% year over year, with 142 average active rigs. The top line beat our model projection of $546.1 million. Operating profit totaled $140.3 million compared with $157.6 million in the prior-year period. The reported figure also beat our model estimate of $113.1 million. International Solutions: Operating revenues of $250.1 million decreased 5.9% from the year-ago quarter’s level of $265.8 million. However, the top line beat our projection of $234.9 million. Operating loss reached $54.4 million, compared with the prior-year period loss of $166.5 million. The figure was below our projected loss of $93 million. Offshore Solutions: Revenues of $174.4 million increased 7.8% from the year-ago quarter’s level of $161.8 million. The top line beat our projection of $157.5 million. Operating profit totaled $16.8 million compared with $8.8 million in the year-ago quarter.  The figure beat our estimate of $11 million. HP’s Financial Position As of June 30, 2026, this Zacks Rank #3 (Hold) company spent $200.2 million on capital programs. HP had $204.4 million in cash and cash equivalents, while the long-term debt totaled $1.8 billion (debt-to-capitalization of 41%). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Helmerich & Payne’s fourth-quarter fiscal 2026 outlook points to continued strength in North America, more variable international performance and stable offshore operations. For North America Solutions, the company expects direct margin of $245 million to $255 million, with an average of 145 to 151 active rigs, compared with a fiscal-year average rig range of 140 to 144. International Solutions is expected to generate direct margin of $25 million to $45 million on 60 to 70 average rigs, compared with a fiscal-year average rig range of 60 to 66. Offshore Solutions is projected to deliver direct margin of $26 million to $30 million in the fiscal fourth quarter, while full-year direct margin is expected at $113 million to $117 million, supported by 30 to 35 average rigs/management contracts. The “Other” segment is expected to contribute up to $5 million of direct margin. For the full fiscal 2026, HP expects gross capital expenditures of $270 million to $310 million, depreciation of approximately $700 million, research and development expense of about $28 million, Selling, general & administrative expenses of $265 million to $285 million, cash taxes of $150 million to $180 million, and interest expense of roughly $100 million. Overall, the outlook implies a relatively constructive finish to fiscal 2026, led by higher North American activity and margins. While we have discussed HP’s fiscal third-quarter results in detail, let us take a look at three other key reports in this space. U.S. energy operator APA Corporation APA reported second-quarter 2026 adjusted earnings of $1.89 per share, beating the Zacks Consensus Estimate of $1.85. The bottom line rose from the year-ago adjusted profit of 87 cents. The outperformance was primarily driven by higher realized oil prices and lower year-over-year expenses. Revenues of $2.4 billion were down 8.2% from the year-ago quarter’s sales and missed the Zacks Consensus Estimate by 1.5%, caused by a decrease in natural gas revenues. As of June 30, APA had $444 million in cash and cash equivalents and $3.7 billion in long-term debt, representing a debt-to-capitalization of 34.8%. Magnolia Oil & Gas Corporation MGY reported a second-quarter 2026 net profit of 99 cents per share, which beat the Zacks Consensus Estimate of 90 cents. The bottom line more than doubled from the year-ago quarter’s 43 cents. This outperformance can be attributed to higher oil and NGL prices and growth in overall production volumes. The oil and gas exploration and production company’s total revenues were $479 million, which beat the Zacks Consensus Estimate of $440 million. The top line also increased 50.2% from $319 million recorded in the year-ago period, driven by higher revenues from oil and natural gas liquids (NGL). As of June 30, 2026, Magnolia had cash and cash equivalents of $295.9 million. The company had long-term debt of $393.6 million, reflecting a debt-to-capitalization of 15.5%. Permian Resources Corporation PR reported second-quarter 2026 adjusted earnings of 69 cents per share, beating the Zacks Consensus Estimate of 56 cents by 23.2%. The bottom line also increased significantly from the year-ago quarter’s adjusted earnings of 27 cents. This outperformance was primarily driven by higher oil and NGL price realizations. The company’s oil and gas sales of $1.86 billion beat the Zacks Consensus Estimate of $1.64 billion by 13.3%. Revenues also increased from the year-ago quarter’s $1.2 billion, aided by a higher year-over-year contribution from oil sales, NGL sales and purchased gas sales during the quarter. As of June 30, 2026, PR had $131.7 million in cash and cash equivalents. The company had a long-term debt of approximately $3 billion, reflecting a debt-to-capitalization of 20%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Helmerich & Payne, Inc. (HP) : Free Stock Analysis Report APA Corporation (APA) : Free Stock Analysis Report Magnolia Oil & Gas Corp (MGY) : Free Stock Analysis Report Permian Resources Corporation (PR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Magnolia Oil & Gas Corporation MGY reported a second-quarter 2026 net profit of 99 cents per share, which beat the Zacks Consensus Estimate of 90 cents. The bottom line more than doubled from the year-ago quarter’s 43 cents. This outperformance can be attributed to higher oil and NGL prices and growth in overall production volumes. The oil and gas exploration and production company’s total revenues were $479 million, which beat the Zacks Consensus Estimate of $440 million. The top line also increased 50.2% from $319 million recorded in the year-ago period, driven by higher revenues from oil and natural gas liquids (NGL). MGY reported $373.7 million in revenues from oil, which increased 65% from the year-ago quarter’s $226.3 million. The figure also beat the consensus estimate of $332 million. The natural gas revenues of $39.7 million decreased from the year-ago quarter’s $42.8 million, missing the consensus estimate of $46 million. The natural gas liquids revenues of $65.4 million increased from the year-ago quarter’s $49.8 million and matched the Zacks Consensus Estimate. Magnolia Oil & Gas Corp price-consensus-eps-surprise-chart | Magnolia Oil & Gas Corp Quote In the quarter under review, the company recorded $384 million in net cash from operating activities and achieved a free cash flow of $234.6 million. On July 29, South Texas-focused Magnolia declared a cash dividend of 18 cents per common share, payable on Sept. 1, 2026, to its shareholders of record as of Aug. 10. This marks a 9% increase to the company’s quarterly dividend rate, providing an annualized dividend of 72 cents per share. In the second quarter, Magnolia repurchased 1.7 million Class A Common shares for $49.3 million and has 9.9 million Class A common shares remaining under its current share repurchase authorization. During the quarter, Magnolia returned 34% of free cash flow to its shareholders through a combination of share repurchases and dividends. Magnolia announced a definitive agreement to acquire WildFire Energy, a strategic deal expected to more than double its Giddings acreage and create the dominant Eagle Ford/Austin Chalk position in South Texas. The combined portfolio will exceed 1.25 million net acres across the Austin Chalk, Eagle Ford and Woodbine, offering significant development upside and access to premium Gulf Coast markets. The acquisition is expected to close in late third-quarter 2026 and will be funded roughly equally with debt and equity. Magnolia raised $1.23 billion through a share offering and $500 million via senior notes at 6.625% due in 2034. The deal is expected to strengthen profitability, free cash flow and shareholder returns. Magnolia reported the average daily total output of 106,089 barrels of oil equivalent per day (boe/d), increasing 8% from the year-ago quarter’s 98,229 boe/d. The figure also beat the Zacks Consensus Estimate of 105,522 boe/d. Oil volumes totaled 41,855 barrels per day (bpd), up 4.7% from the year-ago quarter’s level. Moreover, the figure topped our estimate of 41,519 bpd. Natural gas volumes reached 200,016 thousand cubic feet per day (Mcf/d), up 8.2% from the second quarter of 2025. The figure also surpassed our estimate of 199,743 Mcf/d. Natural Gas Liquids volumes totaled 30,898 bpd, up 12.6% from the year-ago quarter’s level. Moreover, the figure beat our estimate of 30,722 bpd. The average realized crude oil price was $98.13 per barrel, indicating a 58% increase from the year-ago period’s $62.20. The average realized natural gas price of $2.18 per Mcf decreased from the year-ago period’s $2.55, missing our estimate of $2.25. Additionally, the average realized natural gas liquids price was $23.25 per barrel, implying a 16.6% increase from the year-ago period’s figure, missing our estimate of $25.34. MGY recorded an average sales price of $49.60 per boe compared with $35.68 a year ago. As of June 30, 2026, Magnolia had cash and cash equivalents of $295.9 million. The company had long-term debt of $393.6 million, reflecting a debt-to-capitalization of 15.5%. MGY spent $125 million on its capital program in the reported quarter. Operating expenses increased to $239.3 million from $211.2 million in the year-ago period. For the third quarter of 2026, Magnolia expects its D&C capital spending to be about $115 million. Total production for the third quarter is estimated to be similar to second-quarter levels. For the full year of 2026, Magnolia estimates its total D&C capital spending to range between $440 million and $480 million, broadly in line with last year’s levels. The company raised its full-year 2026 production growth guidance to 6% from an earlier 5%. Oil price differentials are expected to average about a $3 per barrel discount to Magellan East Houston, and Magnolia continues to remain fully unhedged across all of its oil and natural gas production. MGY currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. While we have discussed MGY’s second-quarter results in detail, let us take a look at three other key reports in this space. Imperial Oil Limited IMO reported second-quarter 2026 adjusted earnings per share of $3.27, which beat the Zacks Consensus Estimate of $2.99 and increased from the year-ago quarter’s $1.34, driven by higher price realizations. Revenues of $11.6 billion missed the Zacks Consensus Estimate of $11.8 billion. However, the top line increased significantly from the year-ago quarter’s level of $8.1 billion, backed by strong performance in both the Upstream and Downstream segments. As of June 30, 2026, Imperial Oil had cash and cash equivalents of C$2.8 billion. Total debt of the company amounted to C$3.96 billion, with a debt-to-capitalization of 13.9%. USA Compression Partners USAC reported second-quarter 2026 adjusted net profit of 31 cents per common unit, beating the Zacks Consensus Estimate of 24 cents. The metric improved from the year-ago quarter’s net profit of 22 cents per common unit, driven by a year-over-year increase in revenue-generating capacity. The largest independent provider of natural gas compression services generated revenues of $342.1 million, improving 36.8% from the year-ago quarter’s level and beating the Zacks Consensus Estimate by 0.7%. This growth was aided by higher contract operations revenues and higher revenues from the sale of parts and services. As of June 30, 2026, USA Compression had net long-term debt of $2.9 billion. The partnership had $536.9 million of remaining unused availability under its revolving credit facility. Diamondback Energy, Inc. FANG reported second-quarter 2026 adjusted earnings per share of $6.48, which beat the Zacks Consensus Estimate of $5.96 and more than doubled from the year-ago adjusted profit of $2.67. The outperformance was driven by production growth and a 53.1% improvement in the year-over-year realized oil prices. This Midland, TX-based oil and gas exploration and production company’s revenues of $5.6 billion increased more than 51% from the year-ago quarter and topped the Zacks Consensus Estimate by about 17%, fueled primarily by higher sales of oil, natural gas and natural gas liquids, increased sales of purchased oil and higher revenues from other operating income. As of June 30, the Permian-focused operator had approximately $462 million in cash and cash equivalents and $11.1 billion in long-term debt, representing a debt-to-capitalization of 20.1%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Magnolia Oil & Gas Corp (MGY) : Free Stock Analysis Report Imperial Oil Limited (IMO) : Free Stock Analysis Report USA Compression Partners, LP (USAC) : Free Stock Analysis Report Diamondback Energy, Inc. (FANG) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Image source: The Motley Fool. Thursday, Aug. 6, 2026 at 11 a.m. ET Chairman, President and Chief Executive Officer - Christopher G. Stavros Senior Vice President and Chief Financial Officer - Brian Michael Corales Investor Relations - Tom Fitter Operator: Good morning, everyone, and thank you for participating in Magnolia Oil and Gas Corporation's Second Quarter 26 Earnings Conference Call. My name is Megan, and I will be your moderator for today's call. At this time, all participants will be placed in a listen-only mode as our call is being recorded. I will now turn the call over to Magnolia's management for their prepared remarks, which will be followed by a brief question-and-answer session. Tom Fitter: Thank you, Megan, and good morning, everyone. Welcome to Magnolia Oil and Gas' second quarter earnings conference call. Participating on the call today are Christopher G. Stavros, Magnolia's Chairman, President and Chief Executive Officer and Brian Michael Corales, Senior Vice President and Chief Financial Officer. As a reminder, today's conference call contains certain projections and other forward-looking statements, which are within the meaning of the federal securities laws. These statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in these statements. Additional information on risk factors that could cause results to differ available in the company's annual report on Form 10-Ks filed with the SEC. A full Safe Harbor can be found on Slide 2 of the conference call slide presentation with the supplemental data on our website. You can download Magnolia's second quarter 26 earnings press release as well as the conference call slides from the Investors section of the company's website, www.magnoliaoilgas.com. I will now turn the call over to Mr. Christopher G. Stavros. Christopher G. Stavros: Tom, and good morning, everyone. Thank you all for joining us today for a discussion of our second quarter 26 financial and operating results. I know that today is a very busy day of earnings. I will briefly cover our second quarter results which continue to validate the consistent high quality nature of our Giddings asset and provide strong overall financial results, returns, together with our current rate business. I will then highlight a few items related to the financing underlying our recent agreement to acquire Wildfire Energy. Brian will then review our financial results for the second quarter in greater detail and provide some additional guidance before we take your questions. Beginning on Slide 3 in our quarterly investor presentation, Magnolia marked its 8 year anniversary by delivering another quarter of strong and consistent execution as seen through our financial and operating metrics which continue to underscore the strength of our differentiated business model and the quality of our asset base. Strong second quarter financial metrics were supported by both solid production growth and higher year over year oil and NGL prices. Our second quarter adjusted net income was approximately $184 million or $0.99 per diluted share with adjusted EBITDAX of $370 million during the period. Drilling and completion capital for the second quarter was $125 million a reinvestment rate of just 34% of our adjusted EBITDAX and our lowest quarterly rate of capital reinvestment since 2022. Our pretax adjusted operating income margins averaged a very robust 51% for the quarter. Magnolia generated $235 million of free cash flow in the second quarter and returned $80 million of this free cash to our shareholders through a combination of our base dividend and our share repurchase program where we bought back just over 1.7 million shares during the quarter. Our ongoing discipline around capital allocation, strong operational performance and continued focus on our financial returns allowed us to generate meaningful free cash flow and to continue to execute on our proven business model. The second quarter of 26, total company production volumes grew by 8% year over year to 106 thousand barrels of oil equivalent per day above our expectations in earlier guidance with oil production growing by 5% and averaging 41.9 thousand barrels per day. Our total production and oil production volumes established new quarterly records for the company Based on the strong second quarter production we are raising Magnolia standalone full year 2026 production growth guidance to 6% from 5%. Production at Giddings continued to be the primary growth driver for Magnolia and setting a new quarterly record with total Giddings production increasing 10% year over year to 85.5 thousand barrels of oil equivalent per day and oil production of 29 thousand barrels per day with growth of 7% over the same period. Giddings production accounts for approximately 81% of Magnolia's total company volumes. Production in our Karnes area was relatively flat year over year at just over 20 thousand barrels of oil equivalent per day during the second quarter, which we expect to sustain for many years. The Karnes area assets continue to generate a significant amount of free cash flow Magnolia. Turning to Slide 4. As we announced last month, we entered into a definitive agreement to acquire Wildfire Energy for a total consideration of approximately $4.06 billion The acquisition will add approximately 110 thousand net acres to Magnolia's Giddings area position and total oil and gas production of roughly 53 thousand barrels of oil equivalent per day including 37 thousand barrels per day of oil. The acquisition of the Wildfire oil and gas properties and acreage is a natural and strategic fit for Magnolia and greatly improves our business by extending our runway of advantaged profitability and the durability of our significant free cash flow generation. The fit should be clear given the sizable overlap and with roughly 70% of Magnolia's existing acreage benefiting from the transaction with significantly more acreage benefiting from adjacency. Our combined position in the Giddings field will amount to more than 1.25 million net acres with upside development opportunities across multiple benches, including the Austin Chalk, Eagle Ford and Woodbine. The acquisition is a culmination of our extensive subsurface understanding, experience and the demonstration of our proven resource capture in the Giddings field. This creates a premier upstream operation in South Texas by combining 2 high quality and complementary assets near Gulf Coast markets, which offer premium pricing for our products. We expect the transaction to be immediately and highly accretive to our key per share financial metrics, including cash flow, free cash flow and earnings in addition to enhancing our D&C capital reinvestment rate. Wildfire is not only a strong fit for Magnolia offering unique benefits, but it also provides several important characteristics we look for, namely focused, high quality assets with concentrated scale, a low capital reinvestment rate, the ability to provide moderate production growth with high operating margins and steady free cash flow allowing for consistent and significant shareholder returns. Following the wildfire announcement, Magnolia executed multiple capital markets transactions to partially fund the acquisition. Magnolia issued 53.3 million new shares in a public equity offering for net proceeds of $1.23 billion in addition to $500 million of senior notes at a 6 5/8% coupon due in 2034. These 2 transactions closed on July 22 and August 5, respectively. In total, the Wildfire acquisition will be funded with a balanced mix of approximately half equity and half debt with the acquisition on track and expected to close late in the third quarter. Turning to Slide 5, 1 of the most important elements of the Wildfire acquisition is that Magnolia's differentiated, proven, and highly investable business model remains unchanged. While the acquisition adds more leverage than we had carried historically, we believe this is very manageable. Given the significant increase in our free cash flow generation, we have a clear line of sight towards the reduction of debt, which we expect to be less than 1x our net debt to EBITDA by year-end 2027, if not sooner, and returning us to our traditionally more conservative leverage profile. As part of our disciplined capital plan, we will continue to limit our D&C spending to 55% of adjusted EBITDAX, which provides consistent free cash flow through the cycle while delivering both moderate annual total production growth and oil growth. With our combined oil production mix of approximately 50%, we expect to generate high pretax operating margins and in keeping with our business model, continue to return a significant portion of our free cash flow to our shareholders. This includes a safe, sustainable and growing dividend, which is expected to compound at a rate of about 10% over the long term in addition to our ongoing share repurchases of at least 1% of the outstanding shares per quarter. I often mention that 1 of Magnolia's primary goals is to be the most efficient operator of our best in class oil and gas assets to generate the highest returns on those assets while spending the least amount of capital on drilling and completing wells. The combination of Magnolia and Wildfire creates a larger and stronger enterprise with a concentrated acreage position that offers moderate growth, best in class financial returns while generating significant free cash flow. Magnolia will continue to look and behave like it has historically, with an emphasis on managing both operational and financial risk and using the same differentiated and proven business model to continuously compound value for our shareholders. As we were briefly restricted from share repurchases while working on the Wildfire acquisition, we expect to resume our share repurchases after today's quarterly results. I will now turn the call over to Brian for further details on the quarter. For some additional guidance. Brian Michael Corales: Thanks, Christopher, and good morning, everyone. I will review some items from our second quarter results and refer to the presentation slides found on our website. I will also provide some additional guidance for the third quarter of 2026 before turning it over for questions. Beginning on Slide 6, Magnolia delivered a strong quarter generating adjusted net income of $184 million or $0.99 per diluted share. Adjusted EBITDAX for the quarter was $370 million with total capital associated with drilling completions and associated facilities of $125 million representing just 34% of adjusted EBITDAX. Second quarter production volumes grew 8% year over year to 106 thousand barrels of oil equivalent per day, while generating free cash flow of $235 million. Our second quarter annualized return on capital employed was 39%, as a result of higher prices and increased production. Looking at the quarterly cash flow waterfall chart on Slide 7, We started the quarter with $124 million of cash flow from operations before changes in working capital was $362 million with working capital changes and other small items impacting cash by $15 million During the quarter, we paid dividends of $31 million and allocated $49 million towards share repurchases. We incurred $125 million in drilling completions and associated facilities and leasehold, and we ended the quarter with $296 million of cash, an increase of $172 million Looking at Slide 8, this chart illustrates the significant amount of share repurchases we have done beginning the program in the second half of 39. Since that time, we have repurchased 85.5 million shares We repurchased just over 1.7 million shares during the quarter prior to being restricted due to the transaction, leading to the diluted weighted average shares outstanding of 184.6 million shares during the second quarter. We currently have 9.9 million shares remaining under our repurchase authorization. Turning to Slide 9. Our dividend growth has grown substantially over the past few years, including a 10% increase announced early 2026, an additional 9% increase announced a couple of weeks ago in conjunction with our definitive agreement to acquire Wildfire. to $0.18 per share on a quarterly basis. Our next quarterly dividend is payable on September 1, and provides an annualized dividend payout rate of $0.72 per share. Our plan for annualized dividend growth is an important part of Magnolia's investment proposition and supported by our overall strategy of achieving moderate annual production growth reducing our outstanding shares and increasing the dividend payout capacity of the company. Magnolia continues to have a strong balance sheet we ended the quarter with $296 million of cash. Our $400 million senior notes did not mature until 2032, and our recently closed offering of $500 million senior notes associated with the financing, of the wildfire transaction matures in 2034. Upon closing, late in the third quarter, we will also assume Wildfire $600 million senior notes due in 2029. Also upon closing, our credit facility will increase to a $2 billion borrowing base with elected commitments of $1.75 billion providing plenty of available liquidity. We thoughtfully we thoughtfully financed the transaction with half equity and half debt positioning Magnolia to have a very manageable debt load at the close of the transaction allowing us to maintain our business model and our consistent return of capital program. With a significant increase to pro forma cash flows, our plan is to immediately begin to reduce our debt post closing of the transaction. Our condensed balance sheet as of June 30 is shown on Slide 10. Turning to Slide 11 and looking at our per unit cash cost and operating income margins. Total revenue per BOE increased approximately 39% year over year due to the strength in oil prices. Our total adjusted cash operating costs including G&A were $11.55 per BOE in the second quarter of 26, And our adjusted operating income margin for the second quarter was $25.15 per BOE or 51% of our total revenue. Turning to guidance. Third quarter D&C capital expenditures for Magnolia standalone is expected to be approximately $115 million In addition, total production for the third quarter is estimated to be similar to second quarter levels or approximately 106 thousand barrels of oil equivalent a day. Our full year 2026 outlook for total production growth has increased to approximately 6% from our prior guidance of 5%. Oil realizations have trended back to our historical differentials and we are anticipating prices for the third quarter to be at a $3 per barrel discount to Magellan East Houston benchmark pricing. The fully diluted share count after closing the wildfire transaction is expected to be approximately 269 million shares. We expect our effective tax rate to be approximately 21% and cash taxes for 2026 to be minimal. We are now ready to take your questions. Operator: We will now begin the question-and-answer session. The first question comes from Neal Dingmann with William Blair. Please go ahead. Neil Dingmann: Hey, morning team. This is Bert filling in. I know Wildfire has not closed yet, but maybe you could give early thoughts on maybe what a blended D&C plan might look like. Last call, I think you mentioned you are picking up the rig and crew, 2 rigs and a crew. That might imply 50, but we have kind of looked at the data in Giddings. On Enveris and that seems pretty strong. So it would be impressive for the new assets to kind of get equal screen time. Just any thoughts on how you would prioritize the 2 assets? Christopher G. Stavros: Yes. Thanks. Good morning. So if you just simplistically took what we have, what we have been doing, and what they have been doing and combine it that is not a bad starting point. So there are 2 rigs for each of us and 1 completion crew for each of us. it is still very early. We have not closed. We will have more information for you probably later, you know, at the at the back part of this year and after we close on the combined business on our activity, I do believe that we can do better on a combined basis We are obviously going through it. You know, as I have always said, our emphasis is to do this as efficiently as possible. And I think we will be able to do that. We know the field very well. We know the subsurface very well. We have got some very good vendors to work with and good crews, and we will be evaluating theirs And collectively, I do believe that on a combined basis, we will be able to do better. That makes perfect sense. And then on the capital allocation of your free cash flow, you kind of laid out the 5 pillars. We assume most of it will go towards debt. But is there a large opportunity to add working interest or, I think, you called it small bolt ons I just imagine there would be some white space, but also that wildfire probably out there, you know, buying up everything they could. So I know if there was anything left in the area, or was that implying out outside the kind of pro forma footprint? No, I would not tell you it is much outside the pro forma footprint. They did a very good job with line of sight and looking sort of over the hill, if you will, on needing to, sort of you know, pick up additional working interest as they were going ahead, permitting wells and moving forward with drilling. So they did a little of that. Certainly. I do think that there are and will be opportunities for us to pick up additional working interests and royalties on a, you know, concentrated basis, if you will, here and there within the existing footprint of combined magnolia wildfire. So I do not think we will be moving you know, vastly out of that footprint. I think there is still plenty to work on. These will be sort of the typical usual blocking and tackling smaller bolt ons that we have done that will amount to smallish amounts of, money outflow, if you will. I would not tell you that there is anything very, very large by any means. So, you know, the money, the free cash flow in excess of our return of capital plan will go to the debt, first and foremost. And then, you know, there is a little left over. We will certainly be open to picking off some working interest and royalties to make us better. And improve our capability. That sounds like the right thing to do. Thanks, guys. Thanks. Operator: The next question comes from Phillip Jungwirth with BMO. Please go ahead. Phillip Jungwirth: I wanted to come back to the Austin Chalk potential discussion for wildfire. Obviously, they mostly targeted the Lower Eagle Ford, but they do have some strong chalk wells across the Robertson, Burleson area offsetting you in Washington and also Eastern Brazos County. But just wondering which of these areas do you think are more interesting and could the Chalk potential also just be more widespread across the footprint just the areas that they have tested? Christopher G. Stavros: You could be right. We will certainly give it our best shot and try to figure that out. This is an enormous footprint, 1.25 million net acres. So it is going to take us some time to work through. I think the areas that you identified are correct, in addition to areas in Burleson. So, no, there is a tremendous amount of potential upside. There has been, up to now, vis a vis wildfire sort of limited testing drilling So I think there is a lot of low hanging fruit, if you will, that will be you know, accumulated under Magnolia's experience and expertise and just technical knowledge, and we will get at it, over time into next year and beyond. And continue adding to it. So, there is lots going to be lots to work on. To some extent, you know, our folks are going to feel like kids in a candy store. So there will be lots to work on. Sounds good. And then, could you talk about the acquired sand mine and the benefits here? Just are you able to quantify well cost savings from the vertical integration and any optionality it provides you on completion design for both wildfire and legacy Magnolia? Yeah. And we did not actually quantify it or break out the specific savings for the sand mine. But I would tell you, in aggregate, it is several million dollars of the synergies and, cost saving benefits that will get captured in the process. So, that is something different for us. Owning a sand mine. But you know, clearly, we were we were sourcing and our sourcing most of the large majority of our sand requirements and demand from that mine. So it is important to us and they have they have done a good job running it. So it will it will be meaningful in the outcome in terms of what we are able to do going forward. Thank you. Thanks. Operator: The next question comes from Carlos Escalante with Wolfe. Please go ahead. Carlos Escalante: Hey, Christopher and Brian. Thank you for taking my question today. My question is around how should we think about the trajectory of what you develop the next 12 months Said more explicitly, knowing that wildfire was more of an Eagle Ford developer and you are more of an Austin Chalk developer, What do you think is a good placeholder for us modeling the company to have for the next 12 months? Is it a transition from Eagle Ford at first onto Austin Chalk, or should we expect a more equivalent development in between both? Christopher G. Stavros: I think no. I know the plan will be roughly a decent even roughly even mix of Eagle Ford and Chalk. And that is that is not to say that, you know, there is anything any issue 1 way or the other. it is just sort of that is we will probably initially have that balanced plan And, actually, that is, an uplift if you want to think about where they will be coming from on their Austin Chalk activity where we are going to take it. Because we think there is a lot more to capture there. And given our expertise and experience, obviously, The benefit of the Eagle Ford for us and the transition is the fact that it is generally been done for many years there, but not just by wildfire, but by previous operators. And so there is a lot of consistent operational, experience and expertise, if you want to say that. And so we will be looking at ways they have done things and to see if we can employ our model on top of that to see if there is any improvements. I think frankly, I think there will be. Just in terms of how we drill and complete. Maybe even more so maybe drill. But I would tell you that the cadence will be fairly even, but that would represent an uplift on the chalk. D&C and activity relative to what they have been doing. Got it. Fair enough. And then the deal carries a significant amount of oil leverage on their assets. Relative to where Magnolia is stood at a corporate level. So I wonder because Karnes has usually been a source of that exposure to oil, If you can frame today's current strategic fit to you in light of that? Yeah. Sure. I mean, it, you know, as I mentioned in my remarks, the Karnes asset we are very confident that we can hold that flat. For many years, and given some recent acquisitions, that we have done to sort of bolster the available upside of development there. So we like the asset. It generates an enormous amount of free cash flow. So it really is sort of a cash cow, if you will. Way I would characterize it is it does provide ballast and stability for the overall organization. So it is a very important element of what we are and for the business model going forward. So, you know, we like Karnes. it is a good asset. it is very high quality rock. And there is probably more things down the road that, you know, there, given the quality of subsurface that we have not yet gotten to and will over time. Got it. Thank you, Christopher. Thanks. Operator: The next question comes from Peyton Dorne with UBS. Please go ahead. Peyton Doorn: Hi, good morning Christopher and team. Thanks for having me on. I wondered if you could walk through the mechanics of the buyback a bit here for 3Q. Christopher, it sounds like first from your comments that the restrictions are now over. So you will be back in the market. Are there any restrictions on the repurchases as we get closer to the deal close? Any other nuances that we should be thinking about this quarter on the buyback? Christopher G. Stavros: Noah, we have pretty much at this point, we are moving to close We have pretty much disclosed everything that we, need to and are required to disclose. So we are not in any we do not have any, material nonpublic information. So we are open to repurchase We are going to get at that ASAP. And, know, to the extent that the stock does not perform the way we believe it should or reflects the benefits of the transaction. We will choose to be, you know, potentially more aggressive than not. So you should think that we will we will be involved as soon as we can. Great. that is helpful detail. If we could just go back to the capital allocation side. Just curious, when you think about the expected larger scale post wildfire, If there is like a minimum type cash balance that you would like to keep on hand on a go forward basis, I guess what I am really trying to get to is how actively or aggressively you will be kind of repaying that revolver once the deal closes. Thank you. Yeah. I mean, that will really be a priority for us getting that leverage and debt balance down quickly and fairly ratably. At current commodity prices, product prices, that will move ahead at a at a decent clip, and you will see it, you know, we will mark time there. Giving, obviously, the financials every quarter, and you will sort of see it, see the debt come down every period. And if we can find some extra money to put to it, we may do that. So it will be coming down at a good pace. You know, I do not want to give too much in the way of specifics, but that will be a big focus. And I feel very confident that, you know, the 1 times are less, like I said, in my remarks. Certainly by the end of next year. But, frankly, probably sooner than that. Okay. Very helpful. Thanks for having me on. Okay. Thanks. Operator: Our next question comes from Charles Meade with Johnson Rice. Please go ahead. John Davenport: Hey, good morning guys and thanks for taking my question. I wanted to go focus on the production guidance increase from 5% to 6% year-over-year. I know much of that increase is from the Giddings acreage, actually all of it is. Curious if it is simply just well outperformance of expectations so far, if you have made any changes on the D&C front that might be contributing to that? Christopher G. Stavros: No. there is nothing, very meaningful in this particular period or in the last, you know, 3 to 6 months that I would tell you has been needle moving on the DNC front in terms of the well performance. it is really just good operational outcome from the wells that we brought online in Giddings that you mentioned. So, that is exactly what I would point to. And importantly, this is all, you know, stand alone Magnolia. So we have done better than, we anticipated, and that program is sort of continuing that way. So it is it is very specifically the well performance. Okay. Perfect. Yeah. that is thanks for the color. that is all I have today. Okay. Thank you. Operator: The conference has now concluded. Thank you for attending today's presentation. You may now disconnect. 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This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Magnolia Oil & Gas (MGY) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Interested in Magnolia Oil & Gas Corp? Here are five stocks we like better. Record production and stronger outlook: Second-quarter production rose 8% year over year to 106,100 BOE per day, prompting Magnolia to raise its 2026 standalone production-growth guidance to approximately 6% from 5%. Strong cash generation and shareholder returns: Magnolia generated $235 million in free cash flow, returned $80 million through dividends and share repurchases, and raised its quarterly dividend to $0.18 per share. WildFire acquisition will significantly expand operations: The approximately $4.06 billion deal, expected to close late in the third quarter, would add 810,000 net acres and about 53,000 BOE per day of production. Magnolia plans to finance the transaction with roughly equal portions of equity and debt while prioritizing debt reduction afterward. 3 Top Energy Stocks to Buy in 2022 Magnolia Oil & Gas (NYSE:MGY) reported record quarterly production in the second quarter of 2026, raised its full-year standalone production-growth outlook and provided additional details on its pending acquisition of WildFire Energy. Chairman, President and Chief Executive Officer Chris Stavros said the company generated adjusted net income of approximately $184 million, or $0.99 per diluted share, and adjusted EBITDAX of $370 million during the quarter. Magnolia produced $235 million of free cash flow while spending $125 million on drilling and completion capital, representing a 34% reinvestment rate relative to adjusted EBITDAX. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling 3 Small Caps Ready to Make a Run The company returned $80 million to shareholders through dividends and share repurchases during the quarter. Magnolia repurchased more than 1.7 million shares before becoming restricted from additional repurchases while it worked on the WildFire transaction. Total company production increased 8% year over year to a record 106,100 barrels of oil equivalent per day, while oil output rose 5% to 41,900 barrels per day. The results exceeded management’s expectations and prompted Magnolia to increase its full-year 2026 standalone production-growth guidance to approximately 6%, from 5% previously. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High The Giddings area remained the company’s primary growth engine. Total Giddings production increased 10% year over year to a record 85,500 barrels of oil equivalent per day, including 29,000 barrels per day of oil, up 7% from a year earlier. Giddings accounted for approximately 81% of Magnolia’s total production volumes. Production in the Karnes area was relatively flat year over year at slightly more than 20,000 barrels of oil equivalent per day. Stavros said Magnolia expects to sustain Karnes production for many years and described the area as a significant source of free cash flow and operational stability. → No Hangover: Revisiting Microsoft One Week After Earnings For the third quarter, Chief Financial Officer Brian Corales said Magnolia expects standalone production to remain near second-quarter levels at approximately 106,000 barrels of oil equivalent per day. Third-quarter drilling and completion capital expenditures are expected to be about $115 million. Magnolia’s annualized return on capital employed was 39% in the second quarter, supported by higher commodity prices and increased production, Corales said. Revenue per barrel of oil equivalent rose approximately 39% year over year, while adjusted cash operating costs, including general and administrative expenses, were $11.55 per BOE. Adjusted operating income was $25.15 per BOE, equivalent to 51% of total revenue. Magnolia ended the quarter with $296 million of cash, up from $124 million at the beginning of the period. The company paid $31 million in dividends and spent $49 million on repurchases during the quarter. Since beginning its buyback program in the second half of 2019, Magnolia has repurchased 85.5 million shares, Corales said. The company had 9.9 million shares remaining under its repurchase authorization as of the call. Magnolia raised its quarterly dividend to $0.18 per share in connection with its WildFire agreement, following an earlier 10% dividend increase announced in 2026. The next dividend is payable Sept. 1 and represents an annualized payout of $0.72 per share. Magnolia’s planned acquisition of WildFire Energy carries total consideration of approximately $4.06 billion and is expected to close late in the third quarter. The transaction would add approximately 810,000 net acres to Magnolia’s Giddings position, along with roughly 53,000 barrels of oil equivalent per day of production, including 37,000 barrels per day of oil. Following the deal, Magnolia’s Giddings Field position is expected to exceed 1.25 million net acres, with development opportunities in the Austin Chalk, Eagle Ford and Woodbine formations. Stavros said roughly 70% of Magnolia’s existing acreage would benefit from the transaction, with additional acreage benefiting from adjacency. To partially finance the acquisition, Magnolia issued 53.3 million shares in a public equity offering that generated net proceeds of $1.23 billion. It also issued $500 million of 6.625% senior notes due in 2034. The acquisition is expected to be funded with approximately half equity and half debt. Upon closing, Magnolia expects to assume WildFire’s $600 million of senior notes due in 2029. Its credit facility is expected to increase to a $2 billion borrowing base with elected commitments of $1.75 billion. Management said reducing debt would be the company’s top use of free cash flow beyond its shareholder-return program. Stavros said Magnolia expects net debt to EBITDA to fall below one times by year-end 2027, potentially sooner. The company said it intends to continue limiting drilling and completion spending to 55% of adjusted EBITDAX through the cycle. In response to analyst questions, management said the combined company could initially operate with two rigs and one completion crew from each business, though it expects to identify efficiencies after the transaction closes. Stavros said the development plan is expected to have a roughly even mix of Eagle Ford and Austin Chalk activity. Management also said it sees potential for further Austin Chalk development across the expanded footprint, including areas in Robertson, Williamson, Washington, eastern Brazos and Burleson counties. WildFire’s sand mine is expected to contribute several million dollars of aggregate synergies and cost savings, though Magnolia did not provide a more specific estimate. Stavros said Magnolia expects to resume share repurchases following the earnings release and could be more aggressive if management believes the stock does not reflect the anticipated benefits of the WildFire transaction. Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties. The company's core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs). This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Magnolia Oil & Gas Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance beat was driven by strong operational outcomes and well outperformance at the Giddings asset, which now accounts for 81% of total company volumes. The Wildfire Energy acquisition is framed as a natural strategic fit that extends the company's runway of profitability by adding 110,000 net acres with significant geographic overlap. Management achieved its lowest quarterly capital reinvestment rate since 2022 at 34%, emphasizing a focus on high-margin free cash flow over aggressive volume growth. The Karnes area is being managed as a 'cash cow' to provide ballast and stability, with plans to maintain flat production for many years to support shareholder returns. Strategic positioning in South Texas near Gulf Coast markets is intended to capture premium pricing for oil and NGL products. The acquisition is expected to be immediately accretive to per-share metrics while maintaining the core business model of limiting D&C spending to 55% of adjusted EBITDAX. Full-year 2026 standalone production growth guidance was raised to 6% from 5% based on strong first-half performance at Giddings. Management targets a net debt to EBITDA ratio of less than 1x by year-end 2027, prioritizing debt reduction with free cash flow in excess of the return of capital plan. The dividend is expected to compound at a rate of approximately 10% over the long term, supported by moderate production growth and share count reduction. Future development on the combined 1.25 million net acre footprint will focus on a balanced mix of Austin Chalk and Eagle Ford targets. Third quarter production is estimated to remain similar to second quarter levels at approximately 106 thousand barrels of oil equivalent per day. The $4.06 billion Wildfire acquisition is funded via a balanced mix of approximately half equity and half debt to maintain a manageable leverage profile. Magnolia will assume Wildfire's $600 million senior notes due in 2029 as part of the transaction closing expected late in the third quarter. The acquisition includes a vertically integrated sand mine, which management expects will generate several million dollars in aggregate synergies and cost savings. Share repurchases were temporarily restricted during the acquisition process but are expected to resume immediately following the quarterly results. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management plans to initially maintain the current activity levels of two rigs and one completion crew for each entity. Christopher Stavros expressed confidence that Magnolia can improve operational efficiency on the combined acreage by applying its subsurface expertise to Wildfire's assets. The go-forward plan involves a roughly even mix of development between the two formations. Management views the Austin Chalk on the acquired acreage as 'low hanging fruit' with significant upside potential that was previously under-tested. The company intends to be potentially more aggressive with buybacks if the stock price does not reflect the perceived benefits of the Wildfire transaction. Debt reduction is a top priority, with a clear line of sight to reaching leverage targets sooner than the end of 2027 if commodity prices remain favorable.

This article first appeared on GuruFocus. Adjusted Net Income: $184 million, or $0.99 per diluted share. Adjusted EBITDAX: $370 million for the quarter. Drilling and Completion Capital: $125 million, representing a reinvestment rate of 34% of adjusted EBITDAX. Pre-Tax Adjusted Operating Income Margin: 51% of total revenue. Free Cash Flow: $235 million generated in the second quarter. Shareholder Returns: $80 million returned via base dividend ($31 million) and share repurchases ($49 million). Total Production: 106.1 thousand barrels of oil equivalent per day, up 8% year-over-year. Oil Production: 41.9 thousand barrels per day, up 5% year-over-year. Giddings Production: 85.5 thousand barrels of oil equivalent per day, up 10% year-over-year. Karnes Area Production: Just over 20,000 barrels of oil equivalent per day, relatively flat year-over-year. Total Revenue per BOE: Increased approximately 39% year-over-year. Total Adjusted Cash Operating Costs: $11.55 per BOE, including G&A. Adjusted Operating Income: $25.15 per BOE. Annualized Return on Capital Employed: 39%. Cash Position: Ended the quarter with $296 million of cash. Share Repurchases: Bought back just over 1.7 million shares during the quarter. Dividend: Increased 9% to $0.18 per share quarterly, payable September 1st. Warning! GuruFocus has detected 2 Warning Signs with MGY. Is MGY fairly valued? Test your thesis with our free DCF calculator. Release Date: August 06, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record quarterly production of 106.1 Mboe/d, up 8% year-over-year, with oil production up 5% to 41.9 Mbbl/d, exceeding guidance. Strong financial performance with adjusted net income of $184 million ($0.99 per diluted share) and adjusted EBITDAX of $370 million. Low capital reinvestment rate of 34% of adjusted EBITDAX, the lowest since 2022, enabling $235 million of free cash flow generation. Raised full-year 2026 production growth guidance to 6% from 5%, driven by strong Giddings well performance. Strategic WildFire Energy acquisition expected to be immediately accretive to per-share metrics, adding 810,000 net acres and 53 Mboe/d production, with a clear path to reduce debt to under 1x net debt/EBITDA by year-end 2027. Continued shareholder returns with $80 million returned via dividends and buybacks, plus a 9% dividend increase to $0.18 per share quarterly. High operating margins of 51% and robust return on capital employed of 39%. Increased leverage from the WildFire acquisition, with pro forma debt expected to be higher than historical levels, though manageable. Share repurchases were temporarily restricted during the WildFire transaction, limiting buyback activity in Q2. Production in the Karnes area remained flat year-over-year, with no growth expected in the near term. Third-quarter production guidance is flat sequentially at ~106 Mboe/d, indicating a pause in growth momentum. Oil realizations are expected to be a $3 per barrel discount to Magellan East Houston in Q3, reflecting wider differentials. The WildFire acquisition adds integration risks and execution challenges, with the combined development plan still in early stages. Higher share count post-acquisition (269 million diluted shares) will dilute per-share metrics in the near term. Q: Could you provide early thoughts on what a blended D&C plan might look like post-WildFire, and how you would prioritize the two assets?A: Brian Corales (SVP and CFO) stated that a simple combination of current activitiestwo rigs and one completion crew for each companyis a reasonable starting point. However, he emphasized that Magnolia believes it can achieve better efficiency on a combined basis, leveraging its deep knowledge of the Giddings Field subsurface and evaluating WildFire's vendors and crews to optimize operations. Q: With the significant free cash flow expected post-acquisition, is there a large opportunity for bolt-on acquisitions, or will the focus be on debt reduction?A: Brian Corales (SVP and CFO) indicated that while there will be opportunities to pick up additional working interests and royalties within the combined footprint, these will be small, "blocking and tackling" bolt-ons. The primary use of excess free cash flow will be to pay down debt, with any surplus potentially used for these smaller, value-accretive opportunities. Q: Which areas of WildFire's acreage are most interesting for Austin Chalk potential, and could the Chalk potential be more widespread than what WildFire has tested?A: Chris Stavros (Chairman, President, and CEO) confirmed that the areas identified by the analyst, including Robertson, William, Washington, and eastern Brazos counties, are correct, along with areas in Burleson. He noted that WildFire has done limited testing, leaving significant "low-hanging fruit" for Magnolia to develop using its extensive technical expertise in the Austin Chalk, which will be a major focus over the coming years. Q: Can you quantify the well cost savings from the acquired sand mine and the optionality it provides for completion design?A: Chris Stavros (Chairman, President, and CEO) did not provide a specific figure but stated that the sand mine represents "several million dollars" of the overall synergies and cost savings from the transaction. He highlighted that owning the mine, which will supply the majority of Magnolia's sand requirements, is a new and meaningful advantage for the combined company. Q: How should we model the development trajectory over the next 12 months between the Eagle Ford and Austin Chalk?A: Chris Stavros (Chairman, President, and CEO) stated that the plan will be a "roughly even mix" of Eagle Ford and Chalk development. This represents an uplift in Austin Chalk activity relative to WildFire's historical focus. He noted that the Eagle Ford provides consistent operational experience, while Magnolia's expertise will be applied to improve drilling and completion efficiency across both plays. Q: Given the high oil leverage of the WildFire assets, how does the Karnes asset fit strategically within the combined company?A: Chris Stavros (Chairman, President, and CEO) described Karnes as a "cash cow" that provides "ballast and stability" for the overall organization. He confirmed that recent acquisitions have bolstered its development upside, allowing production to be held flat for many years while generating significant free cash flow, making it a vital component of the business model. Q: What are the mechanics of the share buyback for the third quarter, and are there any restrictions as the deal closes?A: Chris Stavros (Chairman, President, and CEO) confirmed that the company is no longer restricted from repurchasing shares and will resume buybacks "ASAP." He stated that if the stock does not reflect the benefits of the transaction, Magnolia may choose to be "potentially more aggressive" in its repurchase activity. Q: Is there a minimum cash balance you will maintain, and how aggressively will you repay the revolver post-closing?A: Chris Stavros (Chairman, President, and CEO) stated that debt reduction will be a "big focus" and a priority. He expects the debt balance to come down at a "good pace" and is confident that net debt to EBITDA will be less than 1x by the end of 2027, and "probably sooner than that," based on current commodity prices. Q: What is driving the increase in full-year production growth guidance from 5% to 6%?A: Chris Stavros (Chairman, President, and CEO) attributed the increase to "good operational outcome from the wells that we brought online in Giddings." He clarified that there have been no significant changes to the D&C program, and the improvement is specifically due to better-than-anticipated well performance on the standalone Magnolia assets. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

HOUSTON, August 05, 2026--(BUSINESS WIRE)--Magnolia Oil & Gas Corporation ("Magnolia," "we," "our," or the "Company") (NYSE: MGY) today announced its financial and operational results for the second quarter of 2026. Second Quarter 2026 Highlights: Second Quarter 2026 Highlights: Magnolia reported second quarter 2026 net income of $181.8 million, or $0.97 per diluted share. Second quarter 2026 adjusted net income (1) was $184.3 million, or $0.99 per diluted share. Diluted weighted average total shares outstanding decreased by 4% to 184.6 million (2) compared to second quarter 2025. Second quarter 2026 net income, adjusted net income, and earnings per diluted share all more than doubled compared to the prior-year second quarter and primarily due to higher oil and NGL prices and growth in our overall production volumes. Adjusted EBITDAX (1) was $370.3 million during the second quarter of 2026. Total drilling and completions ("D&C") capital was $125.0 million which represented approximately 34% of adjusted EBITDAX. Net cash provided by operating activities was $384.0 million during the second quarter of 2026 with free cash flow (1) generated by the Company of $234.6 million more than doubling year-over-year. Magnolia generated operating income as a percentage of revenue (pre-tax margins) of 50% during the second quarter. Total Company production volumes in the second quarter of 2026 grew by 8% on a year-over-year basis to 106.1 thousand barrels of oil equivalent per day ("Mboe/d") and included 41.9 thousand barrels of oil per day ("Mbbls/d") which grew by 5% compared to the prior year period, exceeding earlier guidance and due to continued strong well performance. Total production in Giddings increased 10% year-over-year to 85.5 Mboe/d with oil volumes growing by 7%. On July 20, Magnolia announced that the Company entered into a definitive agreement to acquire WildFire Energy ("WildFire" or the "Acquisition") that will more than double Magnolia’s Giddings acreage and create the dominant Eagle Ford/Austin Chalk acreage position in South Texas by combining two high-quality, complementary assets. The highly accretive Acquisition will be funded with approximately half debt and half equity and is expected to close late in the third quarter of 2026. The Company repurchased 1.7 million shares of its Class A Common Stock during the second quarter for $49.3 million and has 9.9 million Class A common shares remaining under its current share repurchase authorization. As previously announced, Magnolia’s Board of Directors declared a quarterly cash dividend of $0.18 per share, payable on September 1, 2026 to shareholders of record as of August 10, 2026. This quarterly dividend payment is a 9% increase compared to the previous rate, providing an annualized dividend of $0.72 per share. The increase in the quarterly dividend rate was announced in conjunction with the Acquisition. Magnolia returned $80.1 million, or 34% of the Company’s free cash flow(1), to shareholders during the second quarter through a combination of share repurchases and dividends. Inclusive of the significant return of cash to shareholders, Magnolia ended the second quarter with $295.9 million of cash on the balance sheet and an undrawn $450 million revolving credit facility. "Our second quarter results continue to underscore the strength of Magnolia's differentiated business model and the quality of our asset base," said Magnolia’s Chairman, President and CEO Chris Stavros. "The consistent capital allocation discipline, operational execution and continued focus on our financial returns, helped generate meaningful free cash flow totaling $235 million during the second quarter. Our adjusted EBITDAX during the quarter was $370 million, and with capital for drilling and completions of approximately $125 million, our reinvestment rate for the quarter was just 34 percent. Stronger than expected overall oil and gas production totaling 106.1 thousand barrels of oil equivalent per day and oil production of 41.9 thousand barrels of oil per day further supported our quarterly financial results and enabled us to increase Magnolia’s standalone full-year 2026 production growth guidance to 6 percent from 5 percent. "As we announced last month, the acquisition of the WildFire oil and gas properties and acreage is a natural and strategic fit and makes our business better by extending our runway of advantaged profitability and significant free cash flow generation. Our combined position in the Giddings field amounts to more than 1.25 million net acres with upside development opportunities across multiple benches including the Austin Chalk, Eagle Ford and Woodbine. The highly accretive Acquisition is the result of our extensive subsurface understanding, experience, and the demonstration of our proven resource capture in the Giddings field. This creates a premier upstream operation in South Texas by combining two high-quality and complementary assets near Gulf Coast markets which offer premium pricing for our products. WildFire is not only a strong fit for Magnolia offering unique benefits, but it also provides several important characteristics we look for namely, focused, high-quality assets with concentrated scale, a low capital reinvestment rate while providing moderate production growth, high operating margins, and steady free cash flow allowing for consistent and significant shareholder returns." Operational Update Total Company production volumes in the second quarter of 2026 grew by 8 percent on a year-over-year basis to 106.1 Mboe/d including 41.9 Mbbls/d. Total production in Giddings increased by 10 percent in the second quarter, compared to the prior year period with Giddings oil production growing by 7 percent year-over-year, and driven by continued strong well performance. Giddings production represented 81 percent of total Company volumes during the second quarter. Magnolia’s second quarter 2026 capital spending on drilling, completions, and associated facilities was $125.0 million. Additional Guidance On a standalone basis, Magnolia’s third quarter 2026 D&C capital spending is estimated to be approximately $115 million, with total estimated standalone company capital spending for the year reiterated in the range of $440 to $480 million. Total production for the standalone company in the third quarter is estimated to be similar to second quarter levels. As previously disclosed, we are raising our full year 2026 production growth guidance on a standalone company basis to 6 percent from 5 percent. For the third quarter 2026, we expect oil price differentials to be approximately a $3 per barrel discount to Magellan East Houston. WildFire Energy Acquisition Financing After the announcement that Magnolia had entered into a definitive agreement to acquire WildFire, Magnolia executed multiple capital market transactions to partially fund the Acquisition. The Company issued 53.3 million new shares in a public offering for net proceeds of $1.23 billion, in addition to $500 million of senior notes at 6.625% due in 2034. These two transactions closed on July 22nd and August 5th, respectively. In total, the Acquisition will be funded with approximately half equity and half debt. Quarterly Report on Form 10-Q Magnolia's financial statements and related notes will be available in its Quarterly Report on Form 10-Q for the three months ended June 30, 2026, which is expected to be filed with the U.S. Securities and Exchange Commission ("SEC") on August 6, 2026. Conference Call and Webcast Magnolia will host an investor conference call on Thursday, August 6, 2026 at 10:00 a.m. Central (11:00 a.m. Eastern) to discuss these operating and financial results. Interested parties may join the webcast by visiting Magnolia's website at www.magnoliaoilgas.com/investors/events-and-presentations and clicking on the webcast link or by dialing 1-844-701-1059. A replay of the webcast will be posted on Magnolia's website following completion of the call. About Magnolia Oil & Gas Corporation Magnolia (MGY) is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia focuses on generating value for shareholders by delivering steady, moderate annual production growth resulting from its disciplined and efficient philosophy toward capital spending. The Company strives to generate high pre‐tax margins and consistent free cash flow allowing for strong cash returns to our shareholders. For more information, visit www.magnoliaoilgas.com. Cautionary Note Regarding Forward-Looking Statements The information in this press release includes 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. All statements, other than statements of present or historical fact included in this press release, regarding the consummation of the Acquisition and the transactions contemplated thereby, the expected synergies of the Acquisition, Magnolia’s share repurchase program, Magnolia’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, the words could, should, will, may, believe, anticipate, intend, estimate, expect, project, the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events. Except as otherwise required by applicable law, Magnolia disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Magnolia cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Magnolia, incident to the development, production, gathering and sale of oil, natural gas and natural gas liquids. In addition, Magnolia cautions you that the forward looking statements contained in this press release are subject to the following factors: (i) the expected timetable for completing the Acquisition, the results, effects and benefits of the Acquisition, future opportunities for Magnolia, other plans and expectations with respect to the Acquisition, and the anticipated impact of the Acquisition on Magnolia’s results of operations, financial position, growth opportunities and competitive position; (ii) the market prices of oil, natural gas, NGLs, and other products or services; (iii) the supply and demand for oil, natural gas, NGLs, and other products or services, including impacts of actions taken by OPEC and other state-controlled oil companies; (iv) the outcome of any legal proceedings that may be instituted against Magnolia; (v) Magnolia’s ability to realize the anticipated benefits of its acquisitions, which may be affected by, among other things, competition and the ability of Magnolia to grow and manage growth profitably; (vi) legislative, regulatory, or policy changes, including those following the change in presidential administrations; (vii) geopolitical and business conditions in key regions of the world; (viii) cybersecurity threats, including increased use of artificial intelligence technologies; and (ix) the possibility that Magnolia may be adversely affected by other economic, business, and/or competitive factors, including inflation. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in Magnolia’s filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2025. Magnolia’s SEC filings are available publicly on the SEC’s website at www.sec.gov. Magnolia Oil & Gas CorporationNon-GAAP Financial Measures Reconciliation of net income to adjusted EBITDAX In this press release, we refer to adjusted EBITDAX, a supplemental non-GAAP financial measure that is used by management and external users of our consolidated financial statements, such as industry analysts, investors, lenders, and rating agencies. We define adjusted EBITDAX as net income before interest expense, income taxes, depreciation, depletion and amortization, exploration expenses, and accretion of asset retirement obligations, adjusted to exclude the effect of certain items included in net income. Adjusted EBITDAX is not a measure of net income in accordance with GAAP. Our management believes that adjusted EBITDAX is useful because it allows them to more effectively evaluate our operating performance and compare the results of our operations from period to period and against our peers without regard to our financing methods or capital structure. We also believe that securities analysts, investors, and other interested parties may use adjusted EBITDAX in the evaluation of our Company. We exclude the items listed above from net income in arriving at adjusted EBITDAX because these amounts can vary substantially from company to company within our industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Adjusted EBITDAX should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP or as an indicator of our operating performance or liquidity. Certain items excluded from adjusted EBITDAX are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are components of adjusted EBITDAX. Our presentation of adjusted EBITDAX should not be construed as an inference that our results will be unaffected by unusual or non-recurring items. Our computations of adjusted EBITDAX may not be comparable to other similarly titled measures of other companies. The following table presents a reconciliation of net income to adjusted EBITDAX, our most directly comparable financial measure, calculated and presented in accordance with GAAP: Magnolia Oil & Gas CorporationNon-GAAP Financial Measures Reconciliation of net income to adjusted net income Our presentation of adjusted net income is a non-GAAP measures because it excludes the effect of certain items included in net income. Management uses adjusted net income to evaluate our operating and financial performance because it eliminates the impact of certain items that management does not consider to be representative of the Company’s on-going business operations. As a performance measure, adjusted net income may be useful to investors in facilitating comparisons to others in the Company’s industry because certain items can vary substantially in the oil and gas industry from company to company depending upon accounting methods, book value of assets, and capital structure, among other factors. Management believes adjusting these items facilitates investors and analysts in evaluating and comparing the underlying operating and financial performance of our business from period to period by eliminating differences caused by the existence and timing of certain expense and income items that would not otherwise be apparent on a GAAP basis. However, our presentation of adjusted net income may not be comparable to similar measures of other companies in our industry. Magnolia Oil & Gas CorporationNon-GAAP Financial Measures Reconciliation of earnings per share to adjusted earnings per share Our presentation of adjusted earnings per share are non-GAAP measures because it excludes the effect of certain items included in net income. Management uses adjusted earnings per share to evaluate our operating and financial performance because it eliminates the impact of certain items that management does not consider to be representative of the Company’s on-going business operations. As a performance measure, adjusted earnings per share may be useful to investors in facilitating comparisons to others in the Company’s industry because certain items can vary substantially in the oil and gas industry from company to company depending upon accounting methods, book value of assets, and capital structure, among other factors. Management believes excluding these items facilitates investors and analysts in evaluating and comparing the underlying operating and financial performance of our business from period to period by eliminating differences caused by the existence and timing of certain expense and income items that would not otherwise be apparent on a GAAP basis. However, our presentation of adjusted earnings per share may not be comparable to similar measures of other companies in our industry. The Company has not presented prior-period quarterly adjusted diluted earnings per share because differences in the capital structure, including the treatment of the Company's Class B shares as anti-dilutive under ASC 260 in the prior period, result in diluted weighted-average shares outstanding that are not comparable to the current period. Accordingly, management believes presentation of prior-period adjusted diluted earnings per share would not provide a meaningful comparison. Magnolia Oil & Gas CorporationNon-GAAP Financial Measures Reconciliation of revenue to adjusted cash operating margin and operating income margin Our presentation of adjusted operating income margin, adjusted cash operating margin and total adjusted cash operating costs are supplemental non-GAAP financial measures that are used by management. Total adjusted cash operating costs exclude the impact of non-cash activity. We define adjusted cash operating margin per boe as total revenues per boe less cash operating costs per boe. We define adjusted operating income margin as operating margin excluding transaction related costs. Management believes that adjusted operating income margin, total adjusted cash operating costs per boe and adjusted cash operating margin per boe provide relevant and useful information, which is used by our management in assessing the Company’s profitability and comparability of results to our peers. As a performance measure, adjusted operating income margin, total adjusted cash operating costs and adjusted cash operating margin may be useful to investors in facilitating comparisons to others in the Company’s industry because certain items can vary substantially in the oil and gas industry from company to company depending upon accounting methods, book value of assets, and capital structure, among other factors. Management believes excluding these items facilitates investors and analysts in evaluating and comparing the underlying operating and financial performance of our business from period to period by eliminating differences caused by the existence and timing of certain expense and income items that would not otherwise be apparent on a GAAP basis. However, our presentation of adjusted operating income margin, adjusted cash operating margin may not be comparable to similar measures of other companies in our industry. Magnolia Oil & Gas CorporationNon-GAAP Financial Measures Reconciliation of net cash provided by operating activities to free cash flow Free cash flow is a non-GAAP financial measure. Free cash flow is defined as cash flows from operations before net change in operating assets and liabilities less additions to oil and natural gas properties and changes in working capital associated with additions to oil and natural gas properties. Management believes free cash flow is useful for investors and widely accepted by those following the oil and gas industry as financial indicators of a company’s ability to generate cash to internally fund drilling and completion activities, fund acquisitions, and service debt. It is also used by research analysts to value and compare oil and gas exploration and production companies and are frequently included in published research when providing investment recommendations. Free cash flow is used by management as an additional measure of liquidity. Free cash flow is not a measure of financial performance under GAAP and should not be considered an alternative to cash flows from operating, investing, or financing activities. View source version on businesswire.com: https://www.businesswire.com/news/home/20260805476119/en/ Contacts Contacts for Magnolia Oil & Gas CorporationInvestors Tom Fitter(713) [email protected] MediaChristina Kuhl [email protected]

Magnolia Oil & Gas Corp (MGY) came out with quarterly earnings of $0.99 per share, beating the Zacks Consensus Estimate of $0.9 per share. This compares to earnings of $0.43 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +10.00%. A quarter ago, it was expected that this company would post earnings of $0.51 per share when it actually produced earnings of $0.54, delivering a surprise of +5.88%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Magnolia Oil & Gas Corp, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $478.81 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 8.79%. This compares to year-ago revenues of $318.98 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Magnolia Oil & Gas Corp shares have added about 12.3% since the beginning of the year versus the S&P 500's gain of 13%. While Magnolia Oil & Gas Corp has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Magnolia Oil & Gas Corp was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.57 on $387.17 million in revenues for the coming quarter and $2.76 on $1.85 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Exploration and Production - United States is currently in the bottom 13% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, HighPeak Energy, Inc. (HPK), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 10. This company is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of -70%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. HighPeak Energy, Inc.'s revenues are expected to be $274.1 million, up 36.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Magnolia Oil & Gas Corp (MGY) : Free Stock Analysis Report HighPeak Energy, Inc. (HPK) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Magnolia Oil & Gas Corp (MGY) reported $478.81 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 50.1%. EPS of $0.99 for the same period compares to $0.43 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $440.11 million, representing a surprise of +8.79%. The company delivered an EPS surprise of +10%, with the consensus EPS estimate being $0.90. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Magnolia Oil & Gas Corp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Average daily production - Total: 106,089.00 BOE/D versus the six-analyst average estimate of 105,522.00 BOE/D. Average daily production - Natural Gas: 200,016.00 Mcf/D compared to the 199,742.90 Mcf/D average estimate based on six analysts. Average daily production - Oil: 41,855.00 BBL/D versus 41,518.61 BBL/D estimated by six analysts on average. Average daily production - Natural gas liquids: 30,898.00 BBL/D versus the five-analyst average estimate of 30,722.06 BBL/D. Average sales prices - Natural gas: $2.18 versus $2.25 estimated by five analysts on average. Average sales prices - Natural gas liquids: $23.25 versus $25.34 estimated by four analysts on average. Average sales prices - Oil: $98.13 versus $87.63 estimated by four analysts on average. Total Production: 9,654.00 MBOE compared to the 9,601.87 MBOE average estimate based on two analysts. Revenues- Natural gas: $39.67 million versus the five-analyst average estimate of $46.01 million. The reported number represents a year-over-year change of -7.4%. Revenues- Natural gas liquids: $65.38 million compared to the $64.99 million average estimate based on four analysts. The reported number represents a change of +31.3% year over year. Revenues- Oil: $373.76 million versus $332.02 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +65.1% change. View all Key Company Metrics for Magnolia Oil & Gas Corp here>>> Shares of Magnolia Oil & Gas Corp have returned -4.7% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Magnolia Oil & Gas Corp (MGY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research