Matador Q3 adjusted EPS and net income beat estimates on record production
MTDR•Matador’s third-quarter revenue rose 51% year over year as record production and higher prices helped adjusted EPS reach $2.08 and adjusted net income reach $257.5 million, both above estimates. The company repaid $150 million in debt, raised its annual dividend 17% and increased its 2026 oil production guidance.
1. Quarterly results
Matador’s third-quarter oil and natural gas production rose 10% year over year and exceeded guidance. Adjusted EPS was $2.08 versus analyst estimates of $1.93, while adjusted net income was $257.5 million compared with estimates of $217.7 million. Adjusted free cash flow was $287.6 million.
2. Production outlook
Matador raised its full-year 2026 oil production guidance to 128,750-129,250 barrels per day and expects fourth-quarter production of 136,000-138,000 barrels per day. It expects mid-single-digit or better production growth in 2027 versus 2026.
3. Debt and dividend
The company repaid $150 million in debt and raised its annual dividend by 17%. Higher price realizations, including a 53% year-over-year increase in realized natural gas prices, and midstream expansion also contributed to revenue growth.
