MTDR earnings analysis
What we found in MTDR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Matador Resources reported significant declines in Q1 2026 compared to the prior year, with total revenue decreasing 34% to $671.6 million and a net loss of $35.9 million, resulting in an EPS of -$0.29. The company’s increased oil production and capital expenditures guidance reflect a focus on growth despite the revenue shortfall and challenging market conditions.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Q1 Revenue Declined 34% YoY
- Revenue fell to $671.6 million, down from $1.01 billion in Q1 2025.
- Q1 Net Loss of $35.9 Million
- The company reported a net loss of $35.9 million, compared to net income of $240.1 million in Q1 2025.
- Oil Production Increased 5%
- Average daily oil production rose to 120,277 Bbl per day from 115,030 Bbl per day a year earlier.
- Increased 2026 Capital Expenditure Guidance
- Capital expenditures budget increased to $1.35-$1.44 billion for drilling and midstream projects.
- 27% Growth in Midstream Revenues
- Midstream services revenue increased from $33.5 million to $42.1 million, up 26% year-over-year.
- Free Cash Flow Negative
- Free cash flow in Q1 was reported at -$53 million, indicating cash consumption amid rising expenditures.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Significant Unrealized Derivative Losses
- A net loss of $255.5 million on derivatives impacted Q1 results substantially.
- Natural Gas Revenue Plummeted by 80%
- Natural gas revenues fell to $30.4 million from $160.6 million in Q1 2025, significantly impacting overall revenue.
- Cash Flow from Operations Decreased 35%
- Net cash provided by operating activities reduced to $470.5 million from $727.9 million in the prior year.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.29
- Segment
- midstream
What they said about what is next.
2026 capital expenditure guidance remains at $1.35 to $1.44 billion.
The filing reads worse than the one before it.
What came before.
- 10-K · February 26, 2026
- Matador Resources’ 2025 10-K emphasizes execution on a Delaware Basin-led growth plan: record production (43.7 million Bbl oil, +20%) and reserves (667.0 million BOE, +9%), midstream expansion (Marlan plant capacity up…
- 10-Q · October 24, 2025
- Matador reported Q3 2025 total revenues of $939,015,000 (up $39,232,000 or 4.4% vs Q3 2024) and diluted EPS of $1.42 (down $0.57 or 28.6% vs Q3 2024). Operating income for the quarter was $305,979,000 (operating margin…
- 10-Q · July 25, 2025
- Matador reported Q2 revenue of $895,312 (thousands) and diluted EPS of $1.21 for the three months ended June 30, 2025. Revenue exceeded prior year Q2 but declined versus the prior quarter; operating income and EPS…
- 10-Q · April 28, 2025
- Matador reported strong Q1 2025 operating and cash results: total revenues were $1,013,958 (in thousands) and diluted EPS was $1.92, both up versus Q1 2024. Operating cash flow was robust at $727,879 (in thousands) and…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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