Magnolia Oil & Gas Corporation · NYSE:MGY
Magnolia Oil & Gas — Q1 2025 Earnings Presentation
21 slides from Magnolia Oil & Gas's earnings presentation, May 1, 2025
Slide 1: First Quarter 2025 Earnings Presentation
First Quarter 2025 Earnings Presentation April 30, 2025 Christopher Stavros – President & CEO Brian Corales – Senior Vice President & CFO Tom Fitter – Director, Investor Relations
Slide 2: Disclaimer
First Quarter 2025 Earnings Presentation Disclaimer FORWARD LOOKING STATEMENTS The information in this press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Al
Slide 3: First Quarter Highlights & Announcements
First Quarter 2025 Earnings Presentation First Quarter Highlights & Announcements Financial Operations Corporate Total adjusted net income of $106 mm and Q1 2025 total production of 96.5 Mboe/d Increasing full-year 2025 production operating income margin of 39% exceeding our guidance (14% YoY growth
Slide 4: Magnolia's Consistent Business Model
First Quarter 2025 Earnings Presentation Magnolia’s Consistent Business Model High Quality Assets Drive Low Capital Reinvestment Deliver Mid-Single Digit Long-Term Production Rate that Grows the Business Growth with Significant Free Cash Flow Limit Capital Spending to 55% of 2025 BOE Growth of 7% -
Slide 5: Key First Quarter 2025 Financial Metrics
First Quarter 2025 Earnings Presentation Key First Quarter 2025 Financial Metrics Metric Q1 2025 YoY % Change Total Production (Mboe/d) 96.5 14% Oil Production (Mbbls/d) 39.1 4% Revenue ($ MM) $350 10% Adjusted EBITDAX ($ MM) $248 9% Adjusted Net Income ($ MM) $106 5% D&C Capex ($ MM) $130 10% D&C C
Slide 6: Q1 2025 Cash Flow Reconciliation
First Quarter 2025 Earnings Presentation Q1 2025 Cash Flow Reconciliation 600 500 7 24 30 400 52 $ In Millions 232 131 300 200 260 248 100 0 (3) (1) (2) (4) (5) Cash Cash Flow Changes in Acquisitions Dividends and Share DC&F Capital Cash 12/31/2024 from Working Capital Distributions Repurchases & Le
Slide 7: History of Significant & Consistent Share Repurchases
First Quarter 2025 Earnings Presentation History of Significant & Consistent Share Repurchases Magnolia’s Consistent Share Repurchases (1) 80 (million shares repurchased) 2.2 70 11.0 60 9.6 50 15.5 40 (75.0) 30 25.3 Magnolia has reduced its diluted 20 share count by approximately 24% 10 4.5 7.0 0 20
Slide 8: Track Record of a Safe, Sustainable and Growing Dividend
First Quarter 2025 Earnings Presentation Track Record of a Safe, Sustainable and Growing Dividend Dividend Payout Per Share CAGR Has Exceeded 16% Magnolia’s dividend has grown at a double-digit rate over the past 4 years $0.60 Sustainable dividend growth supported $0.52 even at lower product pri
Slide 9: Summary Balance Sheet
First Quarter 2025 Earnings Presentation Summary Balance Sheet (in thousands) March 31, 2025 December 31, 2024 Cash and cash equivalents $247,558 $260,049 Other current assets 159,417 150,775 Property, plant and equipment, net 2,356,122 2,306,034 Other assets 105,517 103,977 Total assets $2,868,614
Slide 10: Margins and Cost Structure
First Quarter 2025 Earnings Presentation Margins and Cost Structure For the Quarters Ended $ / Boe, unless otherwise noted March 31, 2025 March 31, 2024 Revenue $40.31 $41.40 Total Cash Operating Costs: Lease Operating Expenses (1) (5.34) (5.91) Gathering, Transportation & Processing (1.72) (1.11) T
Slide 11: 2025 Operating Plan & Guidance
First Quarter 2025 Earnings Presentation 2025 Operating Plan & Guidance 2025E Production & Capital 2025E Capital Second Quarter 2025 Guidance Production Growth Production ~20-25% Karnes ~97 Mboe/d YoY 2025 Total Growth Increased to 7% - 9% from 5% - 7% D&C Capital Spending ~75-80% Giddings ~$110 Mil
Slide 12: Summary Investment Highlights
First Quarter 2025 Earnings Presentation Summary Investment Highlights High Quality Assets Positioned for Success Leading position in the Giddings area with low capital reinvestment rate, low breakevens and substantial running room Giddings Coveted position in the Karnes area in the core of the
Slide 13: Appendix
Appendix 3 MAGNOLIA & GAS
Slide 14: Consistent & Sizable Cash Return to Shareholders
First Quarter 2025 Earnings Presentation Consistent & Sizable Cash Return to Shareholders Cumulative Return of Capital ($MM) ~$1.7 Billion Returned to Shareholders $1,673 $1,591 Magnolia has a strong track record of $1,213 returning capital to shareholders $908 Returned >40% of current market ca
Slide 15: Magnolia's Commitment to Sustainability
First Quarter 2025 Earnings Presentation Magnolia’s Commitment to Sustainability Safeguarding the 86% REDUCTION 12% REDUCTION 35% REDUCTION Environment Flaring Intensity Rate GHG Intensity Rate Hydrocarbon Spill Volume 2019 to 2023 2019 to 2023 2019 to 2023 Supporting Employees 29% DIVERSITY 1,000 S
Slide 16: Free Cash Flow Reconciliations
First Quarter 2025 Earnings Presentation Free Cash Flow Reconciliations For the Quarters Ended (in thousands) March 31, 2025 March 31, 2024 Net cash provided by operating activities $224,490 $210,932 Add back: net change in operating assets and liabilities 7,992 6,941 Cash flows from operations befo
Slide 17: Adjusted EBITDAX Reconciliations
First Quarter 2025 Earnings Presentation Adjusted EBITDAX Reconciliations For the Quarters Ended (in thousands) March 31, 2025 March 31, 2024 Net income $106,648 $97,597 Interest expense, net 5,252 2,312 Income tax expense 25,137 20,336 EBIT $137,037 $120,245 Depreciation, depletion and amortization
Slide 18: Adjusted Net Income Reconciliation
First Quarter 2025 Earnings Presentation Adjusted Net Income Reconciliation For the Quarters Ended (in thousands) March 31, 2025 March 31, 2024 Net income $106,648 $97,597 Adjustments: (Gain) loss on revaluation of contingent consideration (1,352) 4,205 (1) Change in estimated income tax 274 (795) A
Slide 19: Capital Structure & Liquidity Overview
First Quarter 2025 Earnings Presentation First Quarter 2025 Capital Structure & Liquidity Overview Capital Structure Overview Capitalization & Liquidity ($MM) Maintaining low financial leverage profile Capitalization Summary As of 3/31/2025 ‒ Currently have a net debt(1) position of $152 MM Cash a
Slide 20: Return on Capital Employed
First Quarter 2025 Earnings Presentation Return on Capital Employed For the Quarters Ended (in thousands) March 31, 2025 March 31, 2024 Operating income $135,822 $124,558 Operating income (A) $135,822 $124,558 Debt - beginning of period 392,513 392,839 Stockholders' equity - beginning of period 1,96
Slide 21: Oil & Gas Production Results
First Quarter 2025 Earnings Presentation Oil & Gas Production Results Combined Karnes Giddings Combined Karnes Giddings For the Quarter Ended March 31, 2025 For the Quarter Ended March 31, 2024 Production: Oil (MBbls) 3,517 1,072 2,445 3,415 1,298 2,117 Natural gas (MMcf) 16,492 2,273 14,219 13,749