UPDATE: 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 $0.51 per share, beating the analyst consensus estimate of $0.42 by 21.43%. However, the company's quarterly sales of $280.29 million missed the analyst consensus estimate of $293.27 million by 4.43%. This represents a 61.36% decrease in earnings and a 42.17% decrease in sales compared to the same period last year.
August 04, 2023 | 10:33 am
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NEUTRAL IMPACT
Magnolia Oil & Gas reported better than expected Q2 earnings but lower than expected sales. This mixed report may lead to uncertainty in the market.
Magnolia Oil & Gas reported Q2 earnings that beat estimates, which is generally positive for the stock. However, the company's sales missed estimates, which is generally negative. The net effect on the stock is uncertain.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100