04:37 PM EDT, 05/13/2024 (MT Newswires) -- Mach Natural Resources ( MNR ) reported Q1 earnings late Monday of $0.44 per diluted share, with no year-ago comparable data.

The company completed its initial public offering of 10 million common units priced at $19 per share in October last year.

Four analysts surveyed by Capital IQ expected $0.80.

Revenue for the quarter ended March 31 was $239.2 million, up from $192.2 million a year earlier.

Three analysts surveyed by Capital IQ expected $261.2 million.

The company cut its quarterly dividend to $0.75 per unit from $0.95 per unit, payable on June 10 to common unitholders of record on May 28.