Mach Natural Resources LP (MNR)
NYSE:MNR
Earnings Data
Report Date
May 18, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.49Last Year’s EPS
0.61Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call was overall positive: management reported very strong reserve growth (reserves more than doubled to 705 MMBOE), solid quarterly EBITDA and operating cash flow, historically high returns on capital and sustained distributions, while outlining clear operational plans across Deep Anadarko, San Juan (Mancos) and Oswego. However, notable challenges were reiterated — a pullback in return on capital in 2025, modest quarter-end cash, leverage above the company’s 1.0x target (currently ~1.3x), localized gas basis volatility and high costs/complexity in Deep Anadarko that may require partners or asset monetization. Management emphasized disciplined capital allocation, a 50% reinvestment cap, and a conservative hedging posture, balancing distribution objectives with modest growth. Given the strong operating and financial highlights that outweigh the manageable but meaningful risks, the sentiment is Positive.Company Guidance
Strong Reserve Growth
Year-end 2025 proved reserves more than doubled from March to 705 million BOE (>
100% increase). Additions from development exceeded 2025 production by 18%.
Consistent and Generous Distributions
Total distributions of $1.3 billion since 2018; delivered distributions totaling $5.67 per unit from 2024 through the last announced distribution of $0.53. Reported distribution for the quarter was $0.53 per unit (paid). Company cites an annualized yield of 15%.
Robust Cash Generation and Profitability
Quarterly adjusted EBITDA was $187 million and operating cash flow was $169 million. Cash available for distribution for the quarter was $89 million. Total oil & gas revenues were $331 million and total revenues including hedges and midstream were $388 million.
Hedge Contribution to Revenue
Hedging contributed $42 million in the quarter, representing approximately 10.8% of total reported revenues ($42M of $388M).
Attractive Historical Returns on Capital
Average cash return on capital greater than 30% over the last five years; even during down-cycle 2025 the company delivered a 23% cash return on capital (a multi-year track record of high returns).
Strong Development Economics in Key Plays
Oswego program: >250 locations drilled/completed since 2021 with consistent returns above 50% historically. San Juan Mancos: three-mile lateral projected to recover ~24 Bcf at a targeted cost of $15M (goal to lower to ~$13M in 2026). Deep Anadarko: estimated ultimate recovery ~19.5 Bcf per location (~6.5 Bcf per mile lateral, range 5–8 Bcf/mile).
Disciplined Capital Allocation and Acquisition Discipline
Policy of never acquiring assets above PDP PV-10 (accomplished 23 times). Target reinvestment rate no more than 50% to maximize distributions. Long-term target debt/EBITDA of 1.0x to enable opportunistic M&A.
Operational Additions and Production
Brought on three additional Deep Anadarko locations since last release that combined produced ~40 million cubic feet of gas per day. Reported quarter production was 154,000 BOE/d.
Liquidity and Credit Availability
Ended the quarter with $43 million of cash and $338 million of availability under the credit facility, preserving financial optionality.
MNR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MNR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 12, 2026 | $13.43 | $13.69 | +1.94% |
Nov 06, 2025 | $11.35 | $10.91 | -3.89% |
Aug 07, 2025 | $13.53 | $13.24 | -2.16% |
May 08, 2025 | $11.63 | $12.06 | +3.71% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Mach Natural Resources LP (MNR) report earnings?
Mach Natural Resources LP (MNR) is schdueled to report earning on May 18, 2026, Before Open (Confirmed).
What is Mach Natural Resources LP (MNR) earnings time?
Mach Natural Resources LP (MNR) earnings time is at May 18, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is MNR EPS forecast?
MNR EPS forecast for the fiscal quarter 2026 (Q1) is 0.49.