Filing Flows › Northern Oil & Gas (NOG) › Q1 2025
Northern Oil & Gas (NOG) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
Northern Oil & Gas (NOG) reported revenue of $602M for the first quarter 2025 (Q1 2025), +52% from a year earlier and +17% from the quarter before. Operating margin was 38.1%, net earnings $139M (23.1% of revenue).
Northern Oil & Gas, Q1 2025: revenue $602M (+52% year over year), operating margin 38.1%, net earnings $139M, operating cash flow $407M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $602M | +17% | +52% |
| Operating profit | $229M | +73% | +338% |
| Net earnings | $139M | +94% | 12× |
| Operating cash flow | $407M | +40% | +4% |
| Free cash flow | $136M | — | — |
What changed
Revenue was $602.1M in Q1 2025, up 52% year over year and up 17% from the previous quarter.
Operating profit was $229.3M, a 38.1% margin (up 24.9 points year over year). Of the extra revenue versus a year earlier, 86% reached operating profit, above the 13% margin then. Total costs grew 8% against revenue growth of 52%. The fastest-growing cost line was General & admin (+27%). Net earnings were $139.0M, up 1098% year over year. The effective tax rate was 25.2%.
Operating cash flow was $407.4M (up 4% year over year), 293% of net earnings. Non-cash charges added back $3.6M of share-based compensation. Working capital and other items added $264.9M. After capital Expenditures ($251.7M) and exclude: Changes in Working Capital and Other Items ($20.0M), free cash flow as the company reports it was $135.7M.
Questions
What was Northern Oil & Gas' revenue in the first quarter 2025?
Northern Oil & Gas (NOG) reported revenue of $602M for the first quarter 2025 (Q1 2025), +52% from a year earlier and +17% from the quarter before.
Was Northern Oil & Gas profitable in the first quarter 2025?
Operating profit was $229M (38.1% of revenue) and net earnings $139M.
Source: Northern Oil & Gas 10-Q on SEC EDGAR.