Matador reports Q3 adjusted EPS $1.89, consensus $1.72

Joseph Wm. Foran, Matador’s (MTDR) Founder, Chairman and CEO, commented, “Matador’s third quarter of 2024 was one of the best quarters in Matador’s history with record production and the closing of our largest acquisition to date. Before highlighting these record results, I wanted to take a moment and point to one of the factors that evidences the confidence Matador’s management team, staff and Board of Directors have in the Company’s continuing positive outlook over the years. Recently, The Wall Street Journal published a front-page article noting that insider purchases of company stock have significantly decreased in 2024. For the public record, I wish to state clearly that Matador is not one of these companies. In fact, Matador’s executive officers and directors have purchased approximately $1,400,000 of Matador stock over just the last twelve months, and since the beginning of 2021, Matador’s executive officers have made 27 separate open market purchases totaling 50,000 shares of Matador stock for approximately $2,000,000. During that time, Matador is not only the only company among its peers where management has purchased more shares than management has sold but also Matador’s executive officers have yet to sell a single share. This confidence in Matador’s future extends throughout the Company, as over 95% of Matador’s employees participate in its Employee Stock Purchase Plan.”