Magnolia Oil & Gas (MGY) Q4 2025 Earnings
How Did MGY Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −2.07%.
Did MGY Beat Earnings? Q4 2025 Results
Yes. Magnolia Oil & Gas reported Q4 2025 earnings of $0.37 a share on Feb 5, 2026, beating the $0.36 consensus estimate by 1.8%. Revenue was $317.6M against a $313.7M estimate.
Magnolia Oil & Gas delivered a modest beat across both top and bottom lines in the fourth quarter of 2025, reporting earnings of $0.37 per diluted share against a consensus estimate of $0.36, a 1.84% positive surprise, while revenue of $317.63 million edged past the $313.74 million estimate by 1.24%. The clearest story of the quarter, however, was one of volume offsetting price: total production reached a quarterly record of 103.8 Mboe/d, up 11% year-over-year, yet realized oil prices of $57.54 per barrel fell sharply from $69.01 in the year-ago period, pulling total revenue down 2.8% and net income 20% lower to $71.37 million. The Giddings area, which now accounts for 79% of company volumes, drove the production outperformance with 16% year-over-year growth. Looking ahead, Magnolia guided 2026 D&C capital of $440 to $480 million alongside approximately 5% production growth, while remaining entirely unhedged, a posture CEO Chris Stavros framed as deliberate capital discipline suited for a volatile commodity environment.
- Record quarterly total production of 103.8 Mboe/d, up 11% year-over-year
- Giddings production growth of 16% year-over-year in Q4
- 8% improvement in drilling feet per day and 6% increase in completed feet per day in Giddings
- Lease operating expenses declined 7% to $5.12/boe for full year 2025
- Capital-efficient program with D&C capital below original plan due to strong well performance
- Organic proved developed F&D costs of $9.25/boe
“Magnolia delivered another year of exceptional and consistent performance in 2025, marked by the steady execution of our capital-efficient business model and our high quality assets. I am especially proud of the unwavering dedication and focus shown by both our operating teams in the field and our Houston staff. Their continued hard work and perseverance is a significant factor behind Magnolia's success.”
Magnolia Oil & Gas CEO, on the earnings call
What Was Magnolia Oil & Gas's Outlook in Q4 2025?
Magnolia expects 2026 D&C capital spending of $440–$480 million, comparable to 2025, with approximately 5% total production growth. The company plans to operate two drilling rigs and one completion crew throughout the year, with 75–80% of activity in Giddings and the remainder in Karnes. Q1 2026 D&C capital is estimated at approximately $125 million (the highest quarterly rate for the year) with production of approximately 102 Mboe/d, which includes a 1.5 Mboe/d winter storm impact that has been fully restored. Oil price differentials are expected at approximately $3/bbl discount to Magellan East Houston. The fully diluted share count for Q1 2026 is expected to be approximately 187 million shares, a 4% reduction from Q1 2025. The company remains completely unhedged for all oil and natural gas production.
MGY YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $317.6M | $326.6M | −2.7% |
| Operating Income | $94.1M | $124.1M | −24.2% |
| Net Income | $71.4M | $85.6M | −16.6% |
MGY Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.