Magnolia Oil & Gas Q4 2023 Adj EPS $0.52 Misses $0.53 Estimate, Sales $322.63M Miss $325.80M Estimate
Portfolio Pulse from Benzinga Newsdesk
Magnolia Oil & Gas (MGY) reported Q4 2023 adjusted EPS of $0.52, missing the $0.53 estimate, and sales of $322.63M, missing the $325.80M estimate. This represents a 7.57% decrease in sales compared to the same period last year.
February 14, 2024 | 9:03 pm
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NEGATIVE IMPACT
Magnolia Oil & Gas reported lower than expected Q4 2023 earnings and sales, with a notable year-over-year decrease in sales.
Missing both EPS and sales estimates, especially with a significant year-over-year sales decrease, typically exerts downward pressure on a company's stock price in the short term. Investors may react negatively to the missed expectations and the decline in sales, potentially leading to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100