Magnolia Q3 revenue rises to $333.1 million as net income falls to $105.9 million
Magnolia Oil & Gas reported third quarter 2024 results on October 30, 2024. Total revenue rose from $315.7 million a year earlier to $333.1 million, and production grew 10%, but net income fell 10% and diluted earnings per share fell from $0.54 to $0.52, so the headline profit measures moved in opposite directions. The company also said fourth quarter capital spending is expected to be about $125 million, bringing 2024 capital spending to about $470 million.
Key points
- Total revenue was $333.1 million, up from $315.7 million in the third quarter of 2023.
- Net income attributable to Class A common stock was $99.8 million, or $0.52 per diluted share, versus $0.54 a year earlier; total net income fell 10% to $105.9 million.
- Adjusted EBITDAX was $243.6 million, up 2% from $239.0 million; free cash flow was $126.1 million.
- Fourth quarter production is expected to be about 93 Mboe/d, and 2024 capital spending is expected to be about $470 million, within the $450 million to $480 million budget range.
The filing
Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 30, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.