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Vitesse Energy, Inc. (VTS)
NYSE:VTS
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Earnings Data
Report Date
Feb 17, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.25Last Year’s EPS
0.52Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 08, 2023
|% Change Since: 11.13%
|Next Earnings Date:Feb 13, 2023
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial management, dividend stability, and robust production and development plans, despite production being at the lower end of guidance and the impact of lower oil prices on acquisitions.Company Guidance
During the Vitesse Energy Q3 2024 earnings call, the company provided updated guidance reflecting improved capital efficiency and production growth. Vitesse announced a reduction in its 2024 capital expenditure (CapEx) by 18% while maintaining production within prior guidance, showcasing a focus on capital allocation efficiency. For 2025, Vitesse anticipates a 7% production increase with a 2% reduction in CapEx at the midpoint, projecting annual production between 13,750 to 14,500 barrels of oil equivalent per day. The company also highlighted its robust hedging strategy, securing 54% of the remaining 2024 oil production at over $78 per barrel and 43% of 2025 production at over $73 per barrel. Financial highlights included a Q3 adjusted EBITDA of $37.6 million, adjusted net income of $7.6 million, and a reduction in debt by $10 million, resulting in a leverage ratio of 0.68x. Additionally, Vitesse's dividend remained steady with a $0.525 per share payout, emphasizing its commitment to returning capital to shareholders.Dividend Stability and Capital Efficiency
Vitesse paid a $0.525 per share dividend in September and declared another for December. The company reduced CapEx by 18% while maintaining production guidance, highlighting their capital efficiency and return strategy.
Production and Development Pipeline
Third-quarter production averaged 13,009 BOE per day. The development pipeline is at a record high with 20.2 net wells, indicating robust future production growth.
Financial Performance and Guidance
Adjusted EBITDA for the quarter was $37.6 million, with GAAP net income at $17.4 million. The company reduced its CapEx guidance for the year from $130-150 million to $110-120 million. Debt was reduced by $10 million during the quarter.
Hedging Strategy
Vitesse has 54% of its remaining 2024 oil production hedged above $78 per barrel and 43% of 2025 production hedged above $73 per barrel.
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VTS 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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VTS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $24.61 | $25.75 | +4.63% |
| Aug 05, 2024 | $22.30 | $22.21 | -0.40% |
| May 06, 2024 | $21.20 | $22.62 | +6.70% |
| Feb 26, 2024 | $19.46 | $20.51 | +5.40% |
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 Vitesse Energy, Inc. (VTS) report earnings?
Vitesse Energy, Inc. (VTS) is schdueled to report earning on Feb 17, 2025, TBA Not Confirmed.
What is Vitesse Energy, Inc. (VTS) earnings time?
Vitesse Energy, Inc. (VTS) earnings time is at Feb 17, 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 VTS EPS forecast?
VTS EPS forecast for the fiscal quarter 2024 (Q4) is 0.25.
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