Filing Flows › Matador Resources (MTDR) › Q2 2026 › vs Q1 2026
Matador Resources (MTDR) Q2 2026 vs Q1 2026 (quarter over quarter)
Matador Resources's revenue rose $515M (+77%) from $672M in Q1 2026 to $1.2B in Q2 2026. The biggest changes: Other revenues +$283M (—); Oil revenues +$229M (+25%); Third-party midstream services revenues +$2.5M (+6%). Operating margin 48.7% against 7.0% (+41.7 pts).
Matador Resources, Q2 2026: revenue $1.2B (+32% year over year), operating margin 48.7%, net earnings $391M, operating cash flow $937M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 48.7% | 7.0% | +41.7 pts |
| Net margin | 32.9% | -5.3% | +38.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Oil and natural gas revenues | $1.1B | $819M | $269M | +33% |
| Sales of purchased natural gas | $41.2M | $80.8M | −$39.5M | -49% |
| Oil revenues | $1.1B | $900M | $229M | +25% |
| Third-party midstream services revenues | $44.6M | $42.1M | $2.5M | +6% |
| Other revenues | $13.0M | −$270M | $283M | — |
| Revenue | $1.2B | $672M | $515M | +77% |
| Operating profit | $577M | $46.8M | $531M | 12× |
| Costs & expenses | $609M | $625M | −$15.7M | -3% |
| Pre-tax earnings | $520M | −$16.5M | $537M | — |
| Other expense, net | $56.8M | $63.3M | −$6.5M | -10% |
| General & admin | $41.3M | $39.0M | $2.3M | +6% |
| Other operating costs | $568M | $586M | −$18.0M | -3% |
| Net earnings | $391M | −$35.9M | $427M | — |
| Minority interests | $23.0M | $20.1M | $2.9M | +15% |
| Income tax | $107M | −$684K | $108M | — |
| Depreciation & amortization | $315M | $293M | $22.4M | +8% |
| Share-based compensation | $6.1M | $4.5M | $1.6M | +35% |
| Working capital & other | $225M | $209M | $16.0M | +8% |
| Operating cash flow | $937M | $471M | $467M | +99% |
| Capital expenditures | $1.2B | $497M | $670M | +135% |
| Negative free cash flow (OCF − capex) | $230M | $26.4M | $204M | +772% |
Questions
How much did Matador Resources's revenue grow quarter over quarter in Q2 2026?
Matador Resources's revenue rose $515M (+77%) from $672M in Q1 2026 to $1.2B in Q2 2026.
What drove Matador Resources's revenue change in Q2 2026?
Other revenues +$283M (—); Oil revenues +$229M (+25%); Third-party midstream services revenues +$2.5M (+6%).