Magnolia Oil & Gas (MGY) Q3 2026 Earnings Call Transcript

Magnolia Oil & Gas reported strong third-quarter results in its 2026 earnings call on Thursday, Nov. 5, with adjusted net income of $166.3 million, up 114% year over year to $0.71 per diluted share. Total production rose to 117.3 thousand barrels of oil equivalent per day (+17%), led by higher oil output to 49.1 thousand bpd (+24%). Adjusted EBITDAX reached $392.0 million, helped by a partial 20-day contribution from the Wildfire acquisition. The company generated $223.7 million of adjusted free cash flow and returned $43.1 million in dividends, while buying back 2.3 million shares for $60.2 million. Net debt was about $1.9 billion, targeting less than 1.0x leverage.