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Veren (VRN)
NYSE:VRN
Earnings Data
Report Date
May 09, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.23Last Year’s EPS
-0.46Same Quarter Last Year
Strong Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 27, 2025
|% Change Since: 13.07%
|Next Earnings Date:May 09, 2025
Earnings Call Sentiment|Positive
The earnings call demonstrates a strong financial and operational performance in 2024, with significant cash flow generation, debt reduction, and production growth. The strategic focus on Montney and Duvernay assets yielded impressive results, and the company maintains a positive outlook for 2025 despite some operational challenges related to facilities downtime and completion design trials.Company Guidance
During the Veren 2024 Q4 and full-year results call, Craig Bryksa, CEO, provided comprehensive guidance on the company's performance and future outlook. In 2024, Veren generated over CAD640 million in excess cash flow, returning 60% to shareholders through dividends and share repurchases, and reduced net debt by 35% or CAD1.3 billion. The company achieved annual average production of 191,000 BOE per day, with Q4 production at 189,000 BOE per day, mainly from their Alberta Montney and Duvernay assets. Veren's 2024 production was organically replaced at 173% on a 2P basis, with a recycle ratio of 2.1x. For 2025, Veren projects annual production between 188,000 to 196,000 BOE per day, with capital expenditures forecasted at $1.48 billion to $1.58 billion, including $240 million for facilities. They anticipate generating $625 million to $825 million in excess cash flow, based on $70 to $75 per barrel WTI and $2.25 per Mcf AECO pricing, continuing the practice of returning 60% of this cash flow to shareholders.Excess Cash Flow Generation
Veren generated over CAD640 million of excess cash flow in 2024, with nearly 1/3 realized in Q4. 60% of this excess cash flow was returned to shareholders through dividends and share repurchases.
Significant Debt Reduction
Veren reduced its net debt by 35% or CAD1.3 billion, achieving an investment-grade credit rating.
Record Production Levels
Annual average production reached 191,000 BOE per day, with Q4 production at 189,000 BOE per day. Montney and Duvernay assets accounted for nearly 80% of Q4 production, marking a 10% growth from Q1.
Strong Reserve Additions
Veren organically replaced 173% of its 2024 production on a 2P basis, with positive technical revisions. A strong recycle ratio of 2.1x was achieved based on 2P F&D costs.
Operational Achievements in Montney and Duvernay
Successful implementation of single-point entry completions in Montney, with average peak 30-day rate of 1,270 BOE per day per well (30% above area type well) and a high oil cut of 80%. In Duvernay, multi-well pads achieved a 25% above area type well rate.
Positive Outlook for 2025
Projected annual production guidance of 188,000 to 196,000 BOE per day, with anticipated excess cash flow of $625 million to $825 million based on $70 to $75 per barrel WTI pricing.
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VRN 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
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VRN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 27, 2025 | $4.82 | $5.25 | +8.92% |
| Oct 31, 2024 | $5.93 | $5.08 | -14.33% |
| Jul 25, 2024 | $7.38 | $7.18 | -2.71% |
| May 10, 2024 | $8.45 | $8.35 | -1.18% |
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.
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FAQ
When does Veren (VRN) report earnings?
Veren (VRN) is schdueled to report earning on May 09, 2025, TBA Not Confirmed.
What is Veren (VRN) earnings time?
Veren (VRN) earnings time is at May 09, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VRN EPS forecast?
VRN EPS forecast for the fiscal quarter 2025 (Q1) is 0.23.
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