Magnolia Oil & Gas Corp (MGY) Reports Q4 Earnings: What Key Metrics Have to Say
Magnolia Oil & Gas Corp (MGY) reported $322.63 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 7.6%. EPS of $0.50 for the same period compares to $0.86 a year ago.
The reported revenue represents a surprise of -0.72% over the Zacks Consensus Estimate of $324.95 million. With the consensus EPS estimate being $0.54, the EPS surprise was -7.41%.
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:
Average daily production - Total: 85,414 BOE/D versus the seven-analyst average estimate of 85,073.15 BOE/D.
Average daily production - Natural Gas: 154,848 Mcf/D compared to the 160,398.7 Mcf/D average estimate based on seven analysts.
Average daily production - Natural gas liquids: 24,140 BBL/D versus the seven-analyst average estimate of 23,453.69 BBL/D.
Average daily production - Oil: 35,466 BBL/D compared to the 34,826.75 BBL/D average estimate based on seven analysts.
Average sales prices - Natural gas: $1.85 compared to the $2.27 average estimate based on six analysts.
Average sales prices - Natural gas liquids: $19.69 versus the five-analyst average estimate of $19.66.
Average sales prices - Oil: $77.39 versus the five-analyst average estimate of $79.26.
Total Production: 7,858 Mboe versus the two-analyst average estimate of 7,820.35 Mboe.
Revenues- Natural gas: $26.37 million versus the five-analyst average estimate of $33.92 million. The reported number represents a year-over-year change of -55.6%.
Revenues- Natural gas liquids: $43.73 million versus the three-analyst average estimate of $41.52 million. The reported number represents a year-over-year change of -1.3%.
Revenues- Oil: $252.53 million compared to the $260.91 million average estimate based on three analysts. The reported number represents a change of +3% year over year.
View all Key Company Metrics for Magnolia Oil & Gas Corp here>>>
Shares of Magnolia Oil & Gas Corp have returned +2.4% over the past month versus the Zacks S&P 500 composite's +3.7% 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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