Magnolia Oil & Gas Corporation Q3 2026 Earnings Recap

Magnolia’s shares rose 0.6% after earnings, a roughly flat reaction. The quarter showed higher production and free cash flow, while the call also highlighted ongoing Wildfire integration and debt reduction.

Key Takeaways

• Third-quarter production increased 17% year over year to 107,000 boe/d; oil production rose 24% to 49,100 b/d. The quarter included only 20 days of Wildfire ownership.
• Adjusted net income was approximately $166 million, or $0.71 per diluted share, and adjusted EBITDAX was $392 million. Adjusted free cash flow was $224 million.
• Drilling and completion capital was $147 million, below earlier guidance; the reinvestment rate was 38% of adjusted EBITDAX.
• Magnolia returned about $103 million to shareholders through dividends and repurchases, including 2.3 million shares bought back. Net debt fell by $100 million after the Wildfire closing, to approximately $1.9 billion.
• Management expects to capture at least one-third of the more than $100 million in estimated annual run-rate synergies by year-end 2026 and at least three-fourths by mid-2027; it said the integration is progressing ahead of schedule.