---
schema_version: "secwatch.filing_event.v1"
accession: "0001698990-23-000012"
form_type: "8-K"
ticker: "MGY"
cik: "0001698990"
company_name: "Magnolia Oil & Gas Corp"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T01:15:51.456897+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Magnolia Oil & Gas Q1 net income down 49% to $106.7M; cuts 2023 capex guidance

## Summary
- Net income $106.7M ($0.50 EPS), down 49% YoY; adjusted net income $119.3M, down 43%.
- Adjusted EBITDAX $216.9M (-27% YoY); D&C capex $139.7M (+68% YoY) but below guidance.
- Production 79.3 Mboe/d (+10% YoY, +8% sequential); Giddings output up 22% YoY.
- 2023 D&C capex guidance cut to $440-460M (at least 10% lower); production growth expected 5-7%.
- Repurchased 2.4M shares for $51.3M; declared $0.115/share dividend payable June 1.

## SEC filing metadata
- accession: 0001698990-23-000012
- form_type: 8-K
- ticker: MGY
- cik: 0001698990
- company_name: Magnolia Oil & Gas Corp
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1698990/000169899023000012/0001698990-23-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1698990/000169899023000012/mgy-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001698990-23-000012
- JSON: https://secwatch.observer/filing/0001698990-23-000012.json
- Plain text: https://secwatch.observer/filing/0001698990-23-000012.txt

## Key facts
- Earnings Releases
  Magnolia Oil & Gas Corp updated its the quarter ended March 31, 2023 guidance (lowered).
  - Period: the quarter ended March 31, 2023
  - Guidance: lowered
  - Result: reported results
  source text: On May 3, 2023, Magnolia Oil & Gas Corporation (the "Company") issued a press release, a copy of which is attached hereto as Exhibit 99.1 and incorporated by reference herein, announcing its financial and operational results for the quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698990/000169899023000012/0001698990-23-000012-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.