Reports Q4 revenue $322.63M, consensus $325.8M. “I want to praise our teams for their numerous accomplishments during 2023 which included another solid year of execution on Magnolia’s overall strategy and core principles including disciplined capital spending and high operating margins, while generating consistent free cash flow and delivering moderate production growth,” said President and CEO Chris Stavros. “Our business model is designed to provide a balanced approach toward prudently and efficiently reinvesting in our assets while returning a significant amount of cash to investors. During 2023, we spent 47 percent of our EBITDAX drilling and completing wells while returning 74 percent of our free cash flow to shareholders via share repurchases and dividends.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MGY:
- Magnolia Oil & Gas (MGY) Q4 Earnings Cheat Sheet
- Magnolia Oil & Gas Names Mr. Khani in FD Disclosure
- Magnolia Oil & Gas Welcomes David Khani as New Director
- Magnolia Oil & Gas increases board size
- Magnolia Oil & Gas announces 13% increase to quarterly dividend rate
Questions or Comments about the article? Write to editor@tipranks.com