Filing Flows › Magnolia Oil & Gas (MGY) › Q2 2026
Magnolia Oil & Gas (MGY) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Magnolia Oil & Gas (MGY) reported revenue of $479M for the second quarter 2026 (Q2 2026), +50% from a year earlier and +34% from the quarter before. Operating margin was 50.0%, net earnings $182M (38.0% of revenue).
Magnolia Oil & Gas, Q2 2026: revenue $479M (+50% year over year), operating margin 50.0%, net earnings $182M, operating cash flow $384M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $479M | +34% | +50% |
| Operating profit | $240M | +87% | +122% |
| Net earnings | $182M | +80% | +124% |
| Operating cash flow | $384M | +94% | +93% |
| Free cash flow | $259M | +274% | +163% |
What changed
Revenue was $478.8M in Q2 2026, up 50% year over year and up 34% from the previous quarter. Oil revenues was the largest line at 78% of revenue. Oil revenues added $147.4M year over year (up 65%), 92% of the total change. Natural gas revenues declined 7%.
Operating profit was $239.5M, a 50.0% margin (up 16.2 points year over year). Of the extra revenue versus Q2 2025, 82% reached operating profit, above the 34% margin then. Total costs grew 13% against revenue growth of 50%. The fastest-growing cost line was General & admin (+25%). Net earnings were $181.8M, up 133% year over year. The effective tax rate was 21.8%.
Operating cash flow was $384.0M (up 93% year over year), 211% of net earnings. Non-cash charges added back $116.5M of depreciation and amortization and $9.7M of share-based compensation. Working capital and other items added $76.1M. Capital expenditures of $125.1M left free cash flow of $258.9M.
Questions
What was Magnolia Oil & Gas' revenue in the second quarter 2026?
Magnolia Oil & Gas (MGY) reported revenue of $479M for the second quarter 2026 (Q2 2026), +50% from a year earlier and +34% from the quarter before.
Was Magnolia Oil & Gas profitable in the second quarter 2026?
Operating profit was $240M (50.0% of revenue) and net earnings $182M.
Source: Magnolia Oil & Gas 10-Q on SEC EDGAR.