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Veren (VRN)
NYSE:VRN
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.21Last Year’s EPS
1.17Same Quarter Last Year
Strong Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2018
|% Change Since: -11.97%
|Next Earnings Date:Jul 26, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook, with significant achievements in cash flow generation, strategic transactions, and well performance in certain areas. However, production challenges, well underperformance, and negative market reactions were notable setbacks. The company is optimistic about future growth and efficiency improvements but faces current operational challenges.Company Guidance
During Veren's Third Quarter 2024 Conference Call, the company provided several key financial and operational metrics and guidance for the remainder of 2024 and into 2025. For Q3 2024, Veren generated excess cash flow of CAD114 million, returned CAD85 million to shareholders via dividends and share repurchases, and announced a strategic infrastructure transaction for proceeds of CAD400 million, which closed in Q4. They also continued to reduce net debt, with a total expected repayment of CAD1.3 billion in 2024. The company produced 185,000 BOE per day in Q3, 65% of which was oil and liquids. However, production was affected by third-party facility downtime and infrastructure constraints. Veren plans to address these challenges by investing incremental capital to enhance facility capacities. Looking ahead, they expect annual average production of 191,000 BOE per day in 2024 and between 188,000 to 196,000 BOE per day in 2025, with development capital expenditures of CAD1.45 billion to CAD1.5 billion for 2024 and CAD1.48 billion to CAD1.58 billion in 2025. The company has a five-year plan projecting production growth to 250,000 BOE per day by 2029, driven by their Alberta Montney and Kaybob Duvernay assets, with a projected cumulative after-tax excess cash flow of CAD4 billion over this period, assuming a $70 per barrel WTI price. They plan to return 60% of their excess cash flow to shareholders, while the remainder will be used for debt reduction.Excess Cash Flow Generation
Generated CAD114 million in excess cash flow, with CAD85 million returned to shareholders through dividends and share repurchases.
Strategic Infrastructure Transaction
Announced a strategic infrastructure transaction for proceeds of CAD400 million, closed in Q4.
Debt Reduction Plan
Expected net debt repayment of CAD1.3 billion in 2024.
Top Performing Wells at Gold Creek West
Wells in Gold Creek West ranked amongst the top 1% of all oil and liquids wells in North America, producing 1,800 BOE per day per well.
Growth in Kaybob
Efficiency gains in Kaybob with a 30% reduction in average drilling days per 1,000-meter lateral length since 2021.
Five-Year Plan Production Growth
Annual average production expected to grow to 250,000 BOE per day in 2029, driven by Alberta Montney and Kaybob Duvernay assets.
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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 |
|---|---|---|---|
| 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% |
| Feb 29, 2024 | $6.79 | $6.93 | +2.06% |
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 Feb 27, 2025, TBA Not Confirmed.
What is Veren (VRN) earnings time?
Veren (VRN) earnings time is at Feb 27, 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 2024 (Q4) is 0.21.
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