--- title: "Magnolia Oil & Gas | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 358.51 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285608428.md" datetime: "2026-05-07T20:09:53.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285608428.md) - [en](https://longbridge.com/en/news/285608428.md) - [zh-HK](https://longbridge.com/zh-HK/news/285608428.md) --- # Magnolia Oil & Gas | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 358.51 M Revenue: As of FY2026 Q1, the actual value is USD 358.51 M, beating the estimate of USD 354.39 M. EPS: As of FY2026 Q1, the actual value is USD 0.54, beating the estimate of USD 0.513. EBIT: As of FY2026 Q1, the actual value is USD 133.77 M. Magnolia Oil & Gas Corporation operates in a single reportable segment focused on the acquisition, development, exploration, and production of oil and natural gas properties in the United States, primarily in South Texas. #### Revenue - **Total Revenues**: Total revenues were $358,511 thousand for the three months ended March 31, 2026, an increase from $350,300 thousand for the same period in 2025. - **Oil Revenues**: Increased to $257,329 thousand in Q1 2026 from $245,534 thousand in Q1 2025, driven by a 4% increase in oil production and a 1% increase in average prices. - **Natural Gas Revenues**: Rose slightly to $51,800 thousand in Q1 2026 from $51,367 thousand in Q1 2025, due to a 5% increase in natural gas production, partially offset by a 4% decrease in average prices. - **Natural Gas Liquids (NGLs) Revenues**: Decreased to $49,382 thousand in Q1 2026 from $53,399 thousand in Q1 2025, primarily due to a 16% decrease in average prices, partially offset by a 10% increase in NGL production. #### Operational Metrics - **Operating Income**: For Q1 2026, operating income was $127,764 thousand, down from $135,822 thousand in Q1 2025. - **Net Income Attributable to Class A Common Stock**: Stood at $99,825 thousand in Q1 2026, compared to $102,927 thousand in Q1 2025. - **Total Operating Expenses**: Increased to $230,747 thousand in Q1 2026 from $214,478 thousand in Q1 2025. - **Average Daily Production**: In Q1 2026, total average daily production was 102,564 barrels of oil equivalent per day (boe/d), up from 96,549 boe/d in Q1 2025. This included 40,678 Bbls/d of oil, 193,143 Mcf/d of natural gas, and 29,696 Bbls/d of NGLs in Q1 2026. - **Operating Costs per boe (Q1 2026 vs. Q1 2025)**: - Lease operating expenses: $5.17 (down from $5.42). - Gathering, transportation and processing: $1.97 (up from $1.72). - Taxes other than income: $1.78 (down from $2.31). - Exploration expenses: $0.19 (up from $0.04). - Depreciation, depletion and amortization: $12.28 (up from $12.18). - General and administrative expenses: $3.41 (up from $2.83), primarily due to increased stock-based compensation. #### Cash Flow - **Net Cash Provided by Operating Activities**: Decreased to $197,616 thousand for Q1 2026 from $224,490 thousand for Q1 2025, mainly due to lower realized NGL prices and timing of receipts and payments, partially offset by increased production and tax refunds. - **Net Cash Used in Investing Activities**: Totaled - $247,618 thousand in Q1 2026, compared to - $146,072 thousand in Q1 2025. - **Net Cash Used in Financing Activities**: Was - $92,411 thousand in Q1 2026, compared to - $90,909 thousand in Q1 2025. - **Net Change in Cash and Cash Equivalents**: Resulted in a decrease of - $142,413 thousand in Q1 2026, versus a decrease of - $12,491 thousand in Q1 2025. #### Unique Metrics - **Acquisitions**: The company completed bolt-on property acquisitions totaling $154,990 thousand in Q1 2026, a significant increase from $24,144 thousand in Q1 2025. - **Additions to Oil and Natural Gas Properties (Capital Expenditures)**: Capital expenditures for drilling and completion were $128,427 thousand in Q1 2026, slightly down from $131,168 thousand in Q1 2025. - **Share Repurchase Program**: As of March 31, 2026, 11.6 million shares of Class A Common Stock remained under the authorized share repurchase program. - **Class A Common Stock Repurchases**: Totaled - $33,277 thousand in Q1 2026, compared to - $52,393 thousand in Q1 2025. - **Dividends Paid**: Declared and paid cash dividends of - $30,473 thousand to Class A Common Stock holders in Q1 2026, up from - $28,911 thousand in Q1 2025. - **Class B Common Stock Purchases and Cancellations**: Magnolia LLC repurchased and canceled 0.7 million units for - $19,793 thousand in Q1 2026, eliminating the noncontrolling interest as Magnolia now owns 100% of Magnolia LLC. #### Future Outlook and Strategy Magnolia Oil & Gas Corporation aims to generate long-term stock market value through consistent organic production growth, high full-cycle operating margins, an efficient capital program with short economic paybacks, significant free cash flow after capital expenditures, and effective reinvestment of free cash flow. The company’s ongoing plan involves spending within cash flow on drilling and completing wells while maintaining low financial leverage. 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