Filing Flows › Magnolia Oil & Gas (MGY) › Q1 2026
Magnolia Oil & Gas (MGY) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Magnolia Oil & Gas (MGY) reported revenue of $359M for the first quarter 2026 (Q1 2026), +2% from a year earlier and +13% from the quarter before. Operating margin was 35.6%, net earnings $99.8M (27.8% of revenue).
Magnolia Oil & Gas, Q1 2026: revenue $359M (+2% year over year), operating margin 35.6%, net earnings $99.8M, operating cash flow $198M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $359M | +13% | +2% |
| Operating profit | $128M | +36% | -6% |
| Net earnings | $99.8M | +45% | -3% |
| Operating cash flow | $198M | -5% | -12% |
| Free cash flow | $69.2M | -23% | -26% |
What changed
Revenue was $358.5M in Q1 2026, up 2% year over year and up 13% from the previous quarter. Oil revenues was the largest line at 72% of revenue. Oil revenues added $11.8M year over year (up 5%), 144% of the total change. Natural gas liquids revenues declined 8%.
Operating profit was $127.8M, a 35.6% margin (down 3.1 points year over year). Operating profit fell $8.1M even though revenue rose $8.2M versus Q1 2025, so costs grew faster than sales. Total costs grew 8% against revenue growth of 2%. The fastest-growing cost line was General & admin (+28%). Net earnings were $99.8M, down 3% year over year. The effective tax rate was 17.2%.
Operating cash flow was $197.6M (down 12% year over year), 196% of net earnings. Non-cash charges added back $113.4M of depreciation and amortization and $12.2M of share-based compensation. Working capital and other items used $28.8M. Capital expenditures of $128.4M left free cash flow of $69.2M.
Questions
What was Magnolia Oil & Gas' revenue in the first quarter 2026?
Magnolia Oil & Gas (MGY) reported revenue of $359M for the first quarter 2026 (Q1 2026), +2% from a year earlier and +13% from the quarter before.
Was Magnolia Oil & Gas profitable in the first quarter 2026?
Operating profit was $128M (35.6% of revenue) and net earnings $99.8M.
Source: Magnolia Oil & Gas 10-Q on SEC EDGAR.