Magnolia Oil & Gas Stock Earnings Reports

Magnolia delivered a strong Q1 2026 driven by operational execution and higher oil prices. Production grew 6% YoY to ~102.6k BOE/d (oil 40.7k bbl/d), with Giddings up 9% YoY and now ~82% of volumes. Financial highlights: net income ~$101M ($0.54/share), adjusted EBITDAX $253M, free cash flow ~$146M, and pretax operating margin ~36%. Drilling & completion capex was ~$129M (reinvestment rate ~51% of EBITDAX). Management returned $83M to shareholders via dividends and buybacks (repurchased ~1% of shares in the quarter) and announced a 10% dividend increase earlier in 2026; ~11.6M shares remain authorized for repurchase. Liquidity: $124M cash, $450M undrawn revolver, $400M senior notes due 2032. M&A: completed ~$155M of bolt-on acquisitions adding ~6,200 net acres and ~500 BOE/d (≈45% oil), including a contiguous ~10,000-acre undeveloped block in Karnes and acreage additions in Giddings; these deals increase working interest and long-term drilling inventory. 2026 plan: running two rigs and one completion crew, reiterating full-year D&C capex $440–480M and ~5% production growth, Q2 D&C capex $120–125M, Q2 production ~105k BOE/d. Company remains fully unhedged, expecting improved realizations (Magellan East Houston pricing) and potential upside to earnings/free cash flow if prices hold. Management emphasizes disciplined capital allocation (low reinvestment rate, returning cash to shareholders) and an M&A focus on assets they already operate and understand.