Magnolia Oil & Gas reports Q4 EPS 53c, consensus 53c

Reports Q4 revenue $322.63M, consensus $325.8M. “I want to praise our teams for their numerous accomplishments during 2023 which included another solid year of execution on Magnolia’s overall strategy and core principles including disciplined capital spending and high operating margins, while generating consistent free cash flow and delivering moderate production growth,” said President and CEO Chris Stavros. “Our business model is designed to provide a balanced approach toward prudently and efficiently reinvesting in our assets while returning a significant amount of cash to investors. During 2023, we spent 47 percent of our EBITDAX drilling and completing wells while returning 74 percent of our free cash flow to shareholders via share repurchases and dividends.”