Magnolia Oil & Gas Full Year 2024 Earnings: EPS Misses Expectations

Magnolia Oil & Gas (NYSE:MGY) Full Year 2024 Results

Key Financial Results

• Revenue: US$1.32b (up 7.2% from FY 2023).
• Net income: US$366.0m (down 4.7% from FY 2023).
• Profit margin: 28% (down from 31% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: US$1.96 (down from US$2.04 in FY 2023).

MGY Production and Reserves

Oil reserves

• Proven reserves: 191.7 MMbbls.

Combined production

• Oil equivalent production: 32.834 MMboe (30.054 MMboe in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Magnolia Oil & Gas EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.3%.

In the last 12 months, the only revenue segment was Acquisition, Development, Exploration, and Production of Oil and Natural Gas Properties contributing US$1.32b. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$414.5m (57% of total expenses). Explore how MGY's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 4.6% growth forecast for the Oil and Gas industry in the US.

Performance of the American Oil and Gas industry.

The company's shares are up 5.5% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Magnolia Oil & Gas' balance sheet and an in-depth analysis of the company's financial position.

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