Revenue: As of FY2026 Q1, the actual value is USD 671.64 M.EPS: As of FY2026 Q1, the actual value is USD -0.29, missing the estimate of USD 1.2285.EBIT: As of FY2026 Q1, the actual value is USD 98.35 M.<h4>Consolidated Company Financial Performance</h4>Matador Resources Company reported total revenues of $671,637 thousand in 2026, a 34% decrease from $1,013,958 thousand in 2025 . Oil and natural gas revenues decreased by 10% to $818,731 thousand in 2026 from $909,918 thousand in 2025 . Third-party midstream services revenues increased by 26% to $42,091 thousand in 2026 compared to $33,499 thousand in 2025 . Sales of purchased natural gas rose by 29% to $80,782 thousand in 2026 from $62,756 thousand in 2025 . The company experienced a realized loss on derivatives of -$14,493 thousand in 2026, contrasting with a gain of $2,714 thousand in 2025, and an unrealized loss on derivatives of -$255,474 thousand in 2026, compared to a gain of $5,071 thousand in 2025 . Total expenses were $624,816 thousand in 2026, similar to $624,807 thousand in 2025 . Operating income significantly decreased by 88% to $46,821 thousand in 2026 from $389,151 thousand in 2025 . Net loss attributable to Matador Resources Company shareholders was -$35,872 thousand in 2026, a decline from net income of $240,085 thousand in 2025 . Adjusted EBITDA attributable to Matador Resources Company shareholders (non-GAAP) decreased by 10% to $577,170 thousand in 2026 from $644,223 thousand in 2025 .<h4>Exploration and Production Segment</h4>This segment reported oil and natural gas revenues of $815,951 thousand in 2026, down from $905,931 thousand in 2025 . Sales of purchased natural gas increased to $34,367 thousand in 2026 from $25,577 thousand in 2025 . Realized loss on derivatives was -$14,493 thousand in 2026 (vs. $2,714 thousand gain in 2025), and unrealized loss on derivatives was -$255,474 thousand in 2026 (vs. $5,071 thousand gain in 2025) . Operating expense was $147,178 thousand in 2026, slightly up from $145,867 thousand in 2025 . Other expenses decreased to $414,605 thousand in 2026 from $431,339 thousand in 2025 . Operating income for this segment was $18,568 thousand in 2026, a significant drop from $362,087 thousand in 2025 . Total assets grew to $10,187,710 thousand as of March 31, 2026, from $9,310,313 thousand as of March 31, 2025 . Capital expenditures were $479,060 thousand in 2026, compared to $476,152 thousand in 2025 .<h4>Midstream Segment</h4>Oil and natural gas revenues for the Midstream segment were $2,780 thousand in 2026, down from $3,987 thousand in 2025 . Midstream services revenues increased to $135,948 thousand in 2026 from $119,979 thousand in 2025 . Sales of purchased natural gas were $46,415 thousand in 2026, up from $37,179 thousand in 2025 . Operating expense increased to $55,227 thousand in 2026 from $51,803 thousand in 2025 . Other expenses rose to $67,177 thousand in 2026 from $53,423 thousand in 2025 . Operating income for this segment increased to $62,739 thousand in 2026 from $55,919 thousand in 2025 . Total assets increased to $1,833,540 thousand as of March 31, 2026, from $1,665,288 thousand as of March 31, 2025 . Capital expenditures significantly decreased to $15,734 thousand in 2026 from $77,184 thousand in 2025 .<h4>Operational Metrics</h4>Oil production increased by 5% to 10,825 MBbl in 2026 from 10,353 MBbl in 2025 . Natural gas production rose by 4% to 47.2 Bcf in 2026 from 45.1 Bcf in 2025 . Total oil equivalent production increased by 5% to 18,683 MBOE in 2026 from 17,877 MBOE in 2025 . Average daily oil equivalent production increased by 5% to 207,594 BOE per day in 2026 from 198,631 BOE per day in 2025, with oil comprising 58% (120,277 Bbl per day) and natural gas 42% (523.9 MMcf per day) of daily oil equivalent production in 2026 . Average sales prices for oil (without realized derivatives) increased by 1% to $72.83 per Bbl in 2026 from $72.38 per Bbl in 2025 . Average sales prices for natural gas (without realized derivatives) decreased by 82% to $0.64 per Mcf in 2026 from $3.56 per Mcf in 2025 .<h4>Cash Flow</h4>Net cash provided by operating activities decreased by 35% to $470,546 thousand in 2026 from $727,879 thousand in 2025 . Net cash used in investing activities was -$457,938 thousand in 2026, compared to -$511,662 thousand in 2025 . Net cash provided by financing activities was $387 thousand in 2026, a change from net cash used in financing activities of -$233,443 thousand in 2025 .<h4>Debt and Liquidity</h4>As of March 31, 2026, Matador Resources Company had $185,000 thousand in borrowings under its Credit Agreement, with $2,011,156 thousand available, and $918,000 thousand in borrowings under the San Mateo Credit Facility, with $166,600 thousand available . Post-period, $140,000 thousand was repaid on the Credit Agreement and $58,000 thousand on the San Mateo Credit Facility . In March 2026, Matador Resources Company completed the sale of $750,000 thousand in 6.00% senior notes due 2034, using the $737,900 thousand net proceeds to repurchase and redeem $500,000 thousand of 2028 Notes .<h4>Outlook and Strategy</h4>Matador Resources Company’s 2026 capital expenditure budget includes $1.35 billion to $1.44 billion for drilling, completing, and equipping, and $100.0 million to $110.0 million for midstream capital expenditures, primarily focused on the Delaware Basin . The company maintains flexibility to adjust capital expenditures based on market conditions and plans to opportunistically acquire or divest assets . Matador Resources Company has also secured 500,000 MMBtu per day of firm natural gas transportation on Energy Transfer’s new Hugh Brinson pipeline, expected to commence in Q3 or Q4 2026, providing access to Henry Hub markets and LNG opportunities .

Matador Resources | 10-Q: FY2026 Q1 Revenue: USD 671.64 M