Here's What Key Metrics Tell Us About Magnolia Oil & Gas Corp (MGY) Q3 Earnings
For the quarter ended September 2023, Magnolia Oil & Gas Corp (MGY) reported revenue of $315.68 million, down 34.6% over the same period last year. EPS came in at $0.54, compared to $1.29 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $316.43 million, representing a surprise of -0.24%. The company delivered an EPS surprise of +1.89%, with the consensus EPS estimate being $0.53.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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:
Average daily production - Total: 82,651 BOE/D versus the seven-analyst average estimate of 81,609.47 BOE/D.
Average daily production - Natural gas liquids: 23,686 BBL/D compared to the 22,031.76 BBL/D average estimate based on seven analysts.
Average daily production - Oil: 32,867 BBL/D versus the seven-analyst average estimate of 33,923.18 BBL/D.
Average daily production - Natural Gas: 156,585 Mcf/D versus the seven-analyst average estimate of 153,599 Mcf/D.
Average sales prices - Natural gas: $1.88 compared to the $2.03 average estimate based on six analysts.
Average sales prices - Natural gas liquids: $20.66 compared to the $20.83 average estimate based on five analysts.
Average sales prices - Oil: $80.56 versus $79.36 estimated by five analysts on average.
Revenues- Natural gas: $27.07 million compared to the $28.79 million average estimate based on five analysts. The reported number represents a change of -73% year over year.
Revenues- Natural gas liquids: $45.02 million versus the three-analyst average estimate of $40.86 million. The reported number represents a year-over-year change of -31.4%.
Revenues- Oil: $243.59 million versus $246.23 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -23.2% change.
View all Key Company Metrics for Magnolia Oil & Gas Corp here>>>
Shares of Magnolia Oil & Gas Corp have returned +0.9% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Magnolia Oil & Gas Corp (MGY) : Free Stock Analysis Report
