Magnolia Oil & Gas Q4 net income falls 56% to $0.53 EPS; production rises 16%

Magnolia Oil & Gas Corp

Q4 net income $113.9M ($0.53 diluted EPS) vs $254.8M ($1.20) in Q4 2022, down 56%.
Q4 Adjusted EBITDAX $240M; D&C capital $91.5M (38% of EBITDAX), below guidance of $100M.
Average daily production 85.4 Mboe/d, up 16% YoY; full year 2023 production 82.3 Mboe/d, up 9%.
Full year 2023 net income $442.6M ($2.04 EPS) vs $1,050.2M ($4.71) in 2022, down 58%.
Free cash flow Q4 $131.3M, full year $412.9M; cash balance $401.1M, down 41% from $675.4M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Magnolia Oil & Gas Corp reported the fourth quarter and full-year ended December 31, 2023 results: net income $113.9 million, EPS $0.53.

Period: the fourth quarter and full-year ended December 31, 2023
Net income: $113.9 million
EPS: $0.53
Result: reported results

Exact text from the filing

On February 14, 2024, 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 fourth quarter and full-year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001698990-24-000006

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