We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Magnolia Oil & Gas Corp (MGY) Reports Q2 Earnings: What Key Metrics Have to Say
Read MoreHide Full Article
Magnolia Oil & Gas Corp (MGY - Free Report) reported $280.29 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 42.2%. EPS of $0.44 for the same period compares to $1.10 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $291.74 million, representing a surprise of -3.93%. The company delivered an EPS surprise of +2.33%, with the consensus EPS estimate being $0.43.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Magnolia Oil & Gas Corp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total Production: 81881 BOE/D versus 80134.63 BOE/D estimated by six analysts on average.
Average Daily Net Production - Natural gas liquids: 22571 BBL/D versus the six-analyst average estimate of 21021.72 BBL/D.
Average Daily Net Production - Oil: 34065 BBL/D versus the six-analyst average estimate of 34876 BBL/D.
Average Daily Net Production - Natural Gas: 151469 Mcf/D versus 145238.1 Mcf/D estimated by six analysts on average.
Average sales prices - Natural gas liquids: $17.67 compared to the $19.32 average estimate based on five analysts.
Average sales prices - Natural gas: $1.51 compared to the $1.71 average estimate based on five analysts.
Average sales prices - Oil: $71.98 versus the five-analyst average estimate of $73.19.
Revenue- Natural gas: $20.85 million versus the four-analyst average estimate of $22.75 million. The reported number represents a year-over-year change of -75.6%.
Revenue- Natural gas liquids: $36.30 million compared to the $42.01 million average estimate based on three analysts. The reported number represents a change of -45.4% year over year.
Revenue- Oil: $223.15 million versus the three-analyst average estimate of $234.66 million. The reported number represents a year-over-year change of -33%.
Shares of Magnolia Oil & Gas Corp have returned +6.4% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Magnolia Oil & Gas Corp (MGY) Reports Q2 Earnings: What Key Metrics Have to Say
Magnolia Oil & Gas Corp (MGY - Free Report) reported $280.29 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 42.2%. EPS of $0.44 for the same period compares to $1.10 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $291.74 million, representing a surprise of -3.93%. The company delivered an EPS surprise of +2.33%, with the consensus EPS estimate being $0.43.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Magnolia Oil & Gas Corp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total Production: 81881 BOE/D versus 80134.63 BOE/D estimated by six analysts on average.
- Average Daily Net Production - Natural gas liquids: 22571 BBL/D versus the six-analyst average estimate of 21021.72 BBL/D.
- Average Daily Net Production - Oil: 34065 BBL/D versus the six-analyst average estimate of 34876 BBL/D.
- Average Daily Net Production - Natural Gas: 151469 Mcf/D versus 145238.1 Mcf/D estimated by six analysts on average.
- Average sales prices - Natural gas liquids: $17.67 compared to the $19.32 average estimate based on five analysts.
- Average sales prices - Natural gas: $1.51 compared to the $1.71 average estimate based on five analysts.
- Average sales prices - Oil: $71.98 versus the five-analyst average estimate of $73.19.
- Revenue- Natural gas: $20.85 million versus the four-analyst average estimate of $22.75 million. The reported number represents a year-over-year change of -75.6%.
- Revenue- Natural gas liquids: $36.30 million compared to the $42.01 million average estimate based on three analysts. The reported number represents a change of -45.4% year over year.
- Revenue- Oil: $223.15 million versus the three-analyst average estimate of $234.66 million. The reported number represents a year-over-year change of -33%.
View all Key Company Metrics for Magnolia Oil & Gas Corp here>>>Shares of Magnolia Oil & Gas Corp have returned +6.4% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.