Magnolia Oil & Gas Q3 EPS $0.54, Inline, Sales $315.68M Miss $317.67M Estimate
Portfolio Pulse from totan@benzinga.com
Magnolia Oil & Gas (NYSE:MGY) reported Q3 earnings of $0.54 per share, in line with analyst consensus. However, this is a 58.14% decrease from the same period last year. The company's quarterly sales of $315.68M missed the analyst consensus of $317.67M by 0.63%, marking a 34.64% decrease from last year.
November 01, 2023 | 9:35 pm
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NEGATIVE IMPACT
Magnolia Oil & Gas's Q3 earnings met expectations but sales missed estimates and both earnings and sales are down from last year.
The company's earnings met expectations, which is positive. However, the missed sales estimates and the fact that both earnings and sales are down significantly from last year are negative indicators. This could lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100