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Matador Resources

Matador Resources (MTDR) Q3 2025 Earnings

Reported Oct 21, 2025 at 4:19 PM ET · SEC Source

Q3 25 EPS

$1.36

BEAT +10.99%

Est. $1.23

Q3 25 Revenue

$939.0M

BEAT +8.51%

Est. $865.3M

vs S&P Since Q3 25

+6.5%

BEATING MARKET

MTDR +18.2% vs S&P +11.7%

Market Reaction

Did MTDR Beat Earnings? Q3 2025 Results

Matador Resources posted a strong beat on both the top and bottom lines in Q3 2025, with adjusted EPS of $1.36 coming in 10.99% above the $1.23 consensus estimate while revenue of $939.01 million cleared expectations by 8.51% and grew 9.2% year over … Read more Matador Resources posted a strong beat on both the top and bottom lines in Q3 2025, with adjusted EPS of $1.36 coming in 10.99% above the $1.23 consensus estimate while revenue of $939.01 million cleared expectations by 8.51% and grew 9.2% year over year. The driving force behind the quarter was a record production rate of 209,184 BOE per day, a 22% year-over-year increase that exceeded the midpoint of the company's own July guidance by 5%, fueled by well outperformance, accelerated operational execution, and meaningful contributions from six non-operated Haynesville shale wells. A 14% year-over-year decline in realized oil prices to $64.91 per barrel weighed on net income, which fell to $176.40 million from $248.30 million a year earlier, though the volume strength more than offset the commodity headwind at the revenue level. Matador raised its full-year 2025 production guidance to 205,500-206,500 BOE per day and outlined 2026 organic production of approximately 210,000 BOE per day alongside an 8-12% reduction in capital spending, while the board approved a 20% dividend increase to $1.50 per share annually.

Key Takeaways

  • • Record total production of 209,184 BOE per day, 22% year-over-year increase
  • • Record natural gas production of 537.8 MMcf per day, 9% above guidance midpoint
  • • Oil production of 119,556 barrels per day, 19% year-over-year growth
  • • Drilling and completion costs of approximately $855 per completed lateral foot, 3% below guidance midpoint
  • • 34.5 net operated wells turned to sales, exceeding 30 net guidance by 15%
  • • Six non-operated Haynesville shale wells contributed 1.5 Bcf of natural gas production
  • • San Mateo processed a record 533 MMcf per day, up 10% sequentially
  • • Completion efficiency improved 20% in 2025 versus 2024 through trimul-frac and remote frac operations
  • • Net cash provided by operating activities increased 44% sequentially to $722 million
24/7 Wall St

MTDR YoY Financials

Q3 2025 vs Q3 2024, source: SEC Filings

24/7 Wall St

MTDR Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“Last week we were pleased to announce yet another per share cash dividend increase from $1.25 to $1.50 per year. This dividend is to be paid proportionally each quarter. For the record, Matador's Board of Directors has already raised the dividend once this year and, with this raise, Matador's Board raised the dividend seven times in four years. The Board's decision to increase the dividend at this time is based on our positive outlook for the Company going forward, including Matador's strong liquidity position, free cash flow generation, further growth in our midstream asset, and the growing number of engineered inventory locations for drilling.”

— Joseph Wm. Foran, Q3 2025 Earnings Press Release

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