Filing Flows › Mach Natural Resources LP (MNR) › Q2 2026
Mach Natural Resources LP (MNR) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Mach Natural Resources LP (MNR) reported revenue of $406M for the second quarter 2026 (Q2 2026), +41% from a year earlier and +42% from the quarter before. Operating margin was 30.2%, net earnings $98.2M (24.2% of revenue).
Mach Natural Resources LP, Q2 2026: revenue $406M (+41% year over year), operating margin 30.2%, net earnings $98.2M, operating cash flow $154M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $406M | +42% | +41% |
| Operating profit | $122M | — | +10% |
| Net earnings | $98.2M | — | +10% |
| Operating cash flow | $154M | -10% | +18% |
| Free cash flow | $63.1M | -45% | -10% |
What changed
Revenue was $406.0M in Q2 2026, up 41% year over year and up 42% from the previous quarter. Oil was the largest line at 49% of revenue. Oil added $85.9M year over year (up 77%), 73% of the total change. Gain (loss) on oil and natural gas derivatives declined 58%.
Operating profit was $122.5M, a 30.2% margin (down 8.4 points year over year). Of the extra revenue versus Q2 2025, 10% reached operating profit, below the 39% margin then. Total costs grew 60% against revenue growth of 41%. Net earnings were $98.2M, up 10% year over year. The effective tax rate was 0.0%.
Operating cash flow was $153.7M (up 18% year over year), 156% of net earnings. Non-cash charges added back $98.2M of depreciation and amortization and $3.4M of share-based compensation. Working capital and other items used $46.2M. Capital expenditures of $90.5M left free cash flow of $63.1M.
Questions
What was Mach Natural Resources LP's revenue in the second quarter 2026?
Mach Natural Resources LP (MNR) reported revenue of $406M for the second quarter 2026 (Q2 2026), +41% from a year earlier and +42% from the quarter before.
Was Mach Natural Resources LP profitable in the second quarter 2026?
Operating profit was $122M (30.2% of revenue) and net earnings $98.2M.