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Here's What Key Metrics Tell Us About Magnolia Oil & Gas Corp (MGY) Q2 Earnings

Magnolia Oil & Gas Corp (MGY) reported $478.81 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 50.1%. EPS of $0.99 for the same period compares to $0.43 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $440.11 million, representing a surprise of +8.79%. The company delivered an EPS surprise of +10%, with the consensus EPS estimate being $0.90.

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: 106,089.00 BOE/D versus the six-analyst average estimate of 105,522.00 BOE/D.
Average daily production - Natural Gas: 200,016.00 Mcf/D compared to the 199,742.90 Mcf/D average estimate based on six analysts.
Average daily production - Oil: 41,855.00 BBL/D versus 41,518.61 BBL/D estimated by six analysts on average.
Average daily production - Natural gas liquids: 30,898.00 BBL/D versus the five-analyst average estimate of 30,722.06 BBL/D.
Average sales prices - Natural gas: $2.18 versus $2.25 estimated by five analysts on average.
Average sales prices - Natural gas liquids: $23.25 versus $25.34 estimated by four analysts on average.
Average sales prices - Oil: $98.13 versus $87.63 estimated by four analysts on average.
Total Production: 9,654.00 MBOE compared to the 9,601.87 MBOE average estimate based on two analysts.
Revenues- Natural gas: $39.67 million versus the five-analyst average estimate of $46.01 million. The reported number represents a year-over-year change of -7.4%.
Revenues- Natural gas liquids: $65.38 million compared to the $64.99 million average estimate based on four analysts. The reported number represents a change of +31.3% year over year.
Revenues- Oil: $373.76 million versus $332.02 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +65.1% change.

View all Key Company Metrics for Magnolia Oil & Gas Corp here>>>

Shares of Magnolia Oil & Gas Corp have returned -4.7% over the past month versus the Zacks S&P 500 composite's +3.5% 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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This article originally published on Zacks Investment Research (zacks.com).

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