Magnolia
🇺🇸 NYSE:MGY
•
Dec 31, 2024
Magnolia Q4 2024 Earnings Report
Magnolia reported a decline in net income and EPS for Q4 2024, despite revenue growth in key production segments.
Key Takeaways
Magnolia Oil & Gas Corporation reported Q4 2024 net income of $88.7 million, down 22% year-over-year. Revenue increased slightly to $326.61 million, with growth in oil and natural gas liquids revenue. Adjusted EPS was $0.49, reflecting a decrease from the prior year. Production volume increased by 9%, with strong performance in Giddings.
Net income decreased by 22% to $88.7 million.
Revenue increased slightly to $326.61 million.
Adjusted EPS declined to $0.49 from $0.53 in Q4 2023.
Total production grew 9% to 93.1 Mboe/d.
Magnolia Revenue
Magnolia EPS
Magnolia Revenue by Segment
Forward Guidance
Magnolia expects moderate production growth in 2025 with a continued focus on operational efficiencies and shareholder returns.
Positive Outlook
- Expected total production growth of 5-7% in 2025.
- Continued strong well performance and lower drilling costs.
- Increase in share repurchase authorization by 10 million shares.
- Cash dividend increase by 15% to $0.60 per share annually.
- Strong balance sheet with $260 million in cash.
Challenges Ahead
- Potential impact of oil price fluctuations on revenue.
- Higher capital expenditures projected for Q1 2025.
- Increased costs associated with exploration activities.
- Market uncertainties could affect production plans.
- No hedging strategy, exposing the company to price volatility.