---
schema_version: "secwatch.filing_event.v1"
accession: "0001698990-24-000018"
form_type: "8-K"
ticker: "MGY"
cik: "0001698990"
company_name: "Magnolia Oil & Gas Corp"
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T19:03:23.566074+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Magnolia Q1 net income $97.6M (-9% YoY); acquires Giddings acreage for $125M

## Summary
- Diluted EPS $0.46 (down 8% YoY); adjusted net income $101.0M (down 15%).
- Production 84.8 Mboe/d (+7% YoY); oil output 37.5 Mbbl/d; Giddings production up 17%.
- Free cash flow $117.1M; returned 68% via buybacks ($52.4M) and $0.13 dividend.
- Acquired ~27,000 net acres in Giddings for $125M on April 30; adds ~1,000 boe/d.
- FY 2024 D&C capex reaffirmed $450-480M; Q2 production guided ~89 Mboe/d.

## SEC filing metadata
- accession: 0001698990-24-000018
- form_type: 8-K
- ticker: MGY
- cik: 0001698990
- company_name: Magnolia Oil & Gas Corp
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1698990/000169899024000018/0001698990-24-000018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1698990/000169899024000018/mgy-20240507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001698990-24-000018
- JSON: https://secwatch.observer/filing/0001698990-24-000018.json
- Plain text: https://secwatch.observer/filing/0001698990-24-000018.txt

## Key facts
- Earnings Releases
  Magnolia Oil & Gas Corp reported first quarter of 2024 results: net income $97.6 million, EPS $0.46 per diluted share.
  - Period: first quarter of 2024
  - Net income: $97.6 million
  - EPS: $0.46 per diluted share
  - 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 first quarter of 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698990/000169899024000018/0001698990-24-000018-index.htm

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