Filing Flows › Mach Natural Resources LP (MNR) › Q2 2025
Mach Natural Resources LP (MNR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Mach Natural Resources LP (MNR) reported revenue of $289M for the second quarter 2025 (Q2 2025), +20% from a year earlier and +27% from the quarter before. Operating margin was 38.6%, net earnings $89.7M (31.1% of revenue).
Mach Natural Resources LP, Q2 2025: revenue $289M (+20% year over year), operating margin 38.6%, net earnings $89.7M, operating cash flow $130M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $289M | +27% | +20% |
| Operating profit | $111M | +115% | +58% |
| Net earnings | $89.7M | +464% | +127% |
| Operating cash flow | $130M | -9% | +11% |
| Free cash flow | $70.3M | -24% | +40% |
What changed
Revenue was $288.5M in Q2 2025, up 20% year over year and up 27% from the previous quarter. Oil was the largest line at 38% of revenue. Gain (loss) on oil and natural gas derivatives added $60.2M year over year, 124% of the total change. Oil declined 26%.
Operating profit was $111.3M, a 38.6% margin (up 9.2 points year over year). Of the extra revenue versus a year earlier, 84% reached operating profit, above the 29% margin then. Total costs grew 5% against revenue growth of 20%. Net earnings were $89.7M, up 127% year over year. The effective tax rate was 0.0%.
Operating cash flow was $130.1M (up 11% year over year), 145% of net earnings. Non-cash charges added back $67.1M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items used $28.7M. Capital expenditures of $59.8M left free cash flow of $70.3M.
Questions
What was Mach Natural Resources LP's revenue in the second quarter 2025?
Mach Natural Resources LP (MNR) reported revenue of $289M for the second quarter 2025 (Q2 2025), +20% from a year earlier and +27% from the quarter before.
Was Mach Natural Resources LP profitable in the second quarter 2025?
Operating profit was $111M (38.6% of revenue) and net earnings $89.7M.