Filing Flows › Magnolia Oil & Gas (MGY) › Q3 2026 › vs Q2 2026
Magnolia Oil & Gas (MGY) Q3 2026 vs Q2 2026 (quarter over quarter)
Magnolia Oil & Gas's revenue rose $35.1M (+7%) from $479M in Q2 2026 to $514M in Q3 2026. The biggest changes: Oil revenues +$19.9M (+5%); Natural gas liquids revenues +$10.1M (+15%); Natural gas revenues +$3.8M (+10%). Operating margin 30.1% against 50.0% (-19.9 pts).
Magnolia Oil & Gas, Q3 2026: revenue $514M (+58% year over year), operating margin 30.1%, net earnings $80.5M, operating cash flow $369M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 30.1% | 50.0% | -19.9 pts |
| Net margin | 15.7% | 38.0% | -22.3 pts |
| Free cash flow margin | 42.5% | 54.1% | -11.6 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Oil revenues | $394M | $374M | $19.9M | +5% |
| Natural gas liquids revenues | $75.4M | $65.4M | $10.1M | +15% |
| Natural gas revenues | $43.4M | $39.7M | $3.8M | +10% |
| Revenue | $514M | $479M | $35.1M | +7% |
| Operating profit | $155M | $240M | −$84.9M | -35% |
| Costs & expenses | $359M | $239M | $120M | +50% |
| Pre-tax earnings | $104M | $232M | −$128M | -55% |
| Other expense, net | $50.3M | $7.1M | $43.2M | +609% |
| General & admin | $25.3M | $29.2M | −$3.8M | -13% |
| Other operating costs | $334M | $210M | $124M | +59% |
| Net earnings | $80.5M | $182M | −$101M | -56% |
| Income tax | $23.8M | $50.6M | −$26.8M | -53% |
| Depreciation & amortization | $148M | $117M | $31.3M | +27% |
| Share-based compensation | $9.8M | $9.7M | $142K | +1% |
| Working capital & other | $131M | $76.1M | $54.8M | +72% |
| Operating cash flow | $369M | $384M | −$15.0M | -4% |
| Free cash flow (OCF − capex) | $218M | $259M | −$40.7M | -16% |
| Capital expenditures | $151M | $125M | $25.6M | +20% |
Questions
How much did Magnolia Oil & Gas's revenue grow quarter over quarter in Q3 2026?
Magnolia Oil & Gas's revenue rose $35.1M (+7%) from $479M in Q2 2026 to $514M in Q3 2026.
What drove Magnolia Oil & Gas's revenue change in Q3 2026?
Oil revenues +$19.9M (+5%); Natural gas liquids revenues +$10.1M (+15%); Natural gas revenues +$3.8M (+10%).