Filing Flows › Matador Resources (MTDR) › Q3 2025
Matador Resources (MTDR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 24, 2025
Matador Resources (MTDR) reported revenue of $939M for the third quarter 2025 (Q3 2025), +4% from a year earlier and +5% from the quarter before. Operating margin was 32.6%, net earnings $176M (18.8% of revenue).
Matador Resources, Q3 2025: revenue $939M (+4% year over year), operating margin 32.6%, net earnings $176M, operating cash flow $722M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $939M | +5% | +4% |
| Operating profit | $306M | +6% | -22% |
| Net earnings | $176M | +17% | -29% |
| Operating cash flow | $722M | +44% | +18% |
| Free cash flow | $78.3M | +715% | — |
What changed
Revenue was $939.0M in Q3 2025, up 4% year over year and up 5% from the previous quarter. Oil revenues was the largest line at 76% of revenue. Natural gas revenues added $24.5M year over year (up 34%), 63% of the total change.
Operating profit was $306.0M, a 32.6% margin (down 11.0 points year over year). Operating profit fell $86.1M even though revenue rose $39.2M versus a year earlier, so costs grew faster than sales. Total costs grew 25% against revenue growth of 4%. The fastest-growing cost line was General & admin (+28%). Net earnings were $176.4M, down 29% year over year. The effective tax rate was 22.8%.
Operating cash flow was $721.7M (up 18% year over year), 360% of net income including minority interests. Non-cash charges added back $305.4M of depreciation and amortization and $6.2M of share-based compensation. Working capital and other items added $209.5M. Capital expenditures of $643.4M left free cash flow of $78.3M.
Questions
What was Matador Resources' revenue in the third quarter 2025?
Matador Resources (MTDR) reported revenue of $939M for the third quarter 2025 (Q3 2025), +4% from a year earlier and +5% from the quarter before.
Was Matador Resources profitable in the third quarter 2025?
Operating profit was $306M (32.6% of revenue) and net earnings $176M.
Source: Matador Resources 10-Q on SEC EDGAR.