---
schema_version: "secwatch.filing_event.v1"
accession: "0001698990-23-000028"
form_type: "8-K"
ticker: "MGY"
cik: "0001698990"
company_name: "Magnolia Oil & Gas Corp"
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T02:53:27.418520+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001698990-23-000028
- form_type: 8-K
- ticker: MGY
- cik: 0001698990
- company_name: Magnolia Oil & Gas Corp
- filed_at: 2023-11-01T23:59:59+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/1698990/000169899023000028/0001698990-23-000028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1698990/000169899023000028/mgy-20231101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001698990-23-000028
- JSON: https://secwatch.observer/filing/0001698990-23-000028.json
- Plain text: https://secwatch.observer/filing/0001698990-23-000028.txt

## Key facts
- Earnings Releases
  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
  source text: 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) %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698990/000169899023000028/0001698990-23-000028-index.htm

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