EarningsQ2 2026 Earnings Report
MX:MTDR Q2 2026 EPS Results
Actual EPS$44.74
Consensus EPS$35.59
Beat/MissBeat by +$9.15
One Year Ago EPS$26.23
MX:MTDR Q2 2026 Revenue Results
Actual Revenue$20.11B
Expected Revenue$18.21B
Beat/MissBeat by +$1.91B
YoY Revenue Growth+26.76%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
MX:MTDR Upcoming Earnings
Matador Resources's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:MTDR Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a largely positive outlook driven by strong free cash flow, meaningful reserve growth, upgraded production guidance, high-return new acreage, midstream integration benefits, and operational efficiency gains. Management also stressed deliberate balance-sheet management and de-leveraging after recent acquisitions. Key risks mentioned include remaining leverage, the non-recurring nature of certain marketing gains, commodity price volatility, and execution/permitting risks associated with large lease purchases and expanded development.Company Guidance
Near-Record Adjusted Free Cash Flow
Adjusted free cash flow for the quarter was $303 million. Management used $200 million of that to pay down acquisition-related bank debt and expects to generate roughly $900 million in free cash flow for 2026.
Debt Reduction Progress
Borrowings tied to the May federal lease acquisition have been reduced from approximately $1.25 billion to under $1.0 billion following a $200 million repayment, with management prioritizing continued debt reduction.
Raised Production Guidance with Improved Capital Efficiency
Company raised year-over-year oil production growth guidance from 4% to 7% while stating this improvement was achieved with approximately 1% less capital expenditure versus prior guidance.
Reserves Increase
Proved oil and gas reserves increased by ~5%, rising from 667 million barrels of oil equivalent to 703 million barrels of oil equivalent in the quarter.
High-Return New Assets and Improved Well Economics
Management highlighted new federal and acquired acreage with modeled rates of return around 80% (versus existing assets already >50%). Drivers include expected 15%-20% higher oil EURs on new acreage, multi-bench development (nine+ benches), high net revenue interest (e.g., 1/8 royalty on federal leases), and planned well costs targeted near $600 per foot.
Strategic Acquisitions and Integration
Closed and began integrating Cardinal (plus Paloma and Ridge Runner acquisitions). Integration wins include hiring 26 Cardinal field staff and improving asset connectivity between midstream and E&P businesses; management emphasized strong strategic fit.
Midstream Value and Flow Assurance Opportunity
Management ascribed midstream value to recent transactions (Paloma ~ $50 million, federal lease area ~ $100 million) and highlighted the strategic advantage of pipeline connectivity and flow assurance in a basin with ~100 rigs operating within 10 miles of their pipeline footprint.
Operational Execution Gains
Operational efficiencies were cited: drilling time for 3-mile wells reduced from ~20 days to ~10 days, improving capital efficiency and lowering per-well costs. Rae's Creek initial well test reported over 2,200 barrels (strong early result).
Near-Term Development Visibility
Permitting and development work on federal leases is advanced (management believes they can get on leases late 2026/early 2027). Company noted 12 operated wells near the federal acreage are being completed and planned to be turned online in Q3, and expects to spud wells in the acquired vicinity later in the year.
Marketing and Gas Realization Improvements
A meaningful marketing gain was recorded this quarter (attributed to the marketing team), and management expects better natural gas realizations ahead from assets like the Hugh Brinson Pipeline and agreements with Energy Transfer.
MX:MTDR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed