Magnolia Oil & Gas Corp (MGY) Reports Q1 Earnings: What Key Metrics Have to Say
Magnolia Oil & Gas Corp (MGY) reported $308.38 million in revenue for the quarter ended March 2023, representing a year-over-year decline of 18.4%. EPS of $0.56 for the same period compares to $0.90 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $322.86 million, representing a surprise of -4.48%. The company delivered an EPS surprise of +5.66%, 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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 79342 BOE/D compared to the 80634.6 BOE/D average estimate based on six analysts.
Average Daily Net Production - Natural gas liquids: 20129 BBL/D compared to the 20883.92 BBL/D average estimate based on six analysts.
Average Daily Net Production - Oil: 35788 BBL/D compared to the 35725.84 BBL/D average estimate based on six analysts.
Average Daily Net Production - Natural Gas: 140552 Mcf/D compared to the 143865.8 Mcf/D average estimate based on six analysts.
Average sales prices - Natural gas liquids: $22.90 compared to the $25.02 average estimate based on five analysts.
Average sales prices - Natural gas: $2.20 versus the five-analyst average estimate of $2.25.
Average sales prices - Oil: $74.24 versus $74.34 estimated by five analysts on average.
Revenue- Natural gas: $27.77 million compared to the $28.70 million average estimate based on four analysts. The reported number represents a change of -50.9% year over year.
Revenue- Natural gas liquids: $41.49 million versus the three-analyst average estimate of $46.12 million.
Revenue- Oil: $239.12 million compared to the $237.02 million average estimate based on three analysts.
View all Key Company Metrics for Magnolia Oil & Gas Corp here>>>
Shares of Magnolia Oil & Gas Corp have returned -12.3% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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