Magnolia Q3 net income down 59% YoY to $117.5M; raises 2023 production growth to 8%

Magnolia Oil & Gas Corp

Net income $117.5M ($0.54 diluted EPS), down 59% and 58% YoY respectively.
Adjusted EBITDAX $239M (-38% YoY); D&C capex $104.3M (44% of EBITDAX).
Production 82.7 Mboe/d (+1% sequential); Giddings output up 28% YoY, oil up 23%.
Full-year 2023 organic production growth guidance raised to 8% (high-end of prior range).
Dividend $0.115/share declared, payable Dec 1; repurchased 2.5M shares for $56.8M in Q3.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Magnolia Oil & Gas Corp reported third quarter of 2023 results: net income $117.5 million, EPS $0.54 per diluted share. Guidance raised.

Period: third quarter of 2023
Net income: $117.5 million
EPS: $0.54 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Magnolia Oil & Gas Corporation (“Magnolia,” “we,” “our,” or the “Company”) (NYSE: MGY) today announced its financial and operational results for the third quarter of 2023 . Third Quarter 2023 Highlights: (In millions, except per share data) For the Quarter Ended September 30, 2023 For the Quarter Ended September 30, 2022 Percentage increase (decrease) Net income $ 117.5 $ 287.0 (59) % Earnings per share - diluted $ 0.54 $ 1.29 (58) %

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Magnolia Oil & Gas Corp filing history →

Source: SEC EDGAR

accession 0001698990-23-000028

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