Magnolia Oil & Gas Q2 Adj EPS $0.51 Beats $0.42 Estimate, Sales $280.29M Miss $293.27M Estimate
Portfolio Pulse from Benzinga Newsdesk
Magnolia Oil & Gas (NYSE:MGY) reported Q2 earnings of $0.48 per share, beating the analyst consensus estimate of $0.43 by 11.63%. However, this is a 63.64% decrease from the same period last year. The company's quarterly sales of $280.29 million missed the analyst consensus estimate of $291.74 million by 3.92%, marking a 42.17% decrease from the same period last year.
August 04, 2023 | 10:30 am
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Magnolia Oil & Gas reported Q2 earnings that beat estimates but were significantly lower than last year. Sales also missed estimates and were lower YoY.
While Magnolia Oil & Gas beat earnings estimates, the significant YoY decrease in both earnings and sales, as well as missing sales estimates, could negatively impact investor sentiment and the stock price in the short term.
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