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DALLAS - Matador Resources Company (NYSE:MTDR) reported first quarter 2025 earnings that surpassed analyst expectations, while revenue fell short of estimates. The oil and gas producer also announced a $400 million share repurchase program and adjustments to its 2025 drilling plans.
Matador posted adjusted earnings per share of $1.99, beating the analyst consensus of $1.84 by $0.15. However, revenue came in at $909.9 million, below the $959.65 million analysts had projected. The company’s total oil and natural gas production increased 33% YoY to an average of 198,631 barrels of oil equivalent (BOE) per day in Q1, slightly above its guidance range.
"Matador is pleased to report another profitable quarter that exceeded our expectations," said Joseph Wm. Foran, Matador’s Founder, Chairman and CEO. He noted the company is in its "strongest position yet" to take advantage of opportunities in challenging times.
The company’s board approved a $400 million share repurchase program, which will be in addition to its current quarterly dividend of $0.3125 per share. Matador also plans to reduce its drilling activity from nine to eight rigs by mid-2025 in response to recent commodity price volatility.
This adjustment is expected to lower Matador’s 2025 drilling, completing and equipping capital expenditures by $100 million to $1.275 billion. The company said this provides additional flexibility for debt repayment, share repurchases, potential dividend increases, and other opportunities.
Matador’s stock was unchanged in after-hours trading following the earnings release.
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