Filing Flows › Mach Natural Resources LP (MNR) › Q3 2025
Mach Natural Resources LP (MNR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Mach Natural Resources LP (MNR) reported revenue of $273M for the third quarter 2025 (Q3 2025), +7% from a year earlier and -6% from the quarter before. Operating margin was -7.0%, net loss $35.7M (13.1% of revenue).
Mach Natural Resources LP, Q3 2025: revenue $273M (+7% year over year), operating margin -7.0%, net loss $35.7M, operating cash flow $106M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $273M | -6% | +7% |
| Operating profit | −$19.2M | -117% | — |
| Net earnings | −$35.7M | -140% | — |
| Operating cash flow | $106M | -19% | -5% |
What changed
Revenue was $272.6M in Q3 2025, up 7% year over year and down 6% from the previous quarter. Oil was the largest line at 43% of revenue. Natural gas added $29.5M year over year (up 64%), 173% of the total change. Gain (loss) on oil and natural gas derivatives declined 27%.
Operating costs exceeded revenue by $19.2M, an operating margin of -7.0%. Total costs grew 81% against revenue growth of 7%. The quarter ended with a net loss of $35.7M, after a profit of $89.7M the previous quarter.
Operating cash flow was $105.5M (down 5% year over year). Non-cash charges added back $65.6M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items added $73.5M. Capital expenditures of $539.6M exceeded it, leaving free cash flow of −$434.1M.
Questions
What was Mach Natural Resources LP's revenue in the third quarter 2025?
Mach Natural Resources LP (MNR) reported revenue of $273M for the third quarter 2025 (Q3 2025), +7% from a year earlier and -6% from the quarter before.
Was Mach Natural Resources LP profitable in the third quarter 2025?
Operating loss was $19.2M (-7.0% of revenue) and net loss $35.7M.