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Vaalco Energy Inc (EGY)
NYSE:EGY
Holding EGY?
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Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.12Last Year’s EPS
$0.37Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: -21.15%
|Next Earnings Date:Mar 05, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a positive sentiment, highlighting significant operational and financial achievements, especially with the Svenska acquisition and strong adjusted EBITDAX growth. However, challenges such as deferred drilling in Gabon, high tax rates, and working capital issues in Egypt balanced the positive achievements.Company Guidance
During VAALCO Energy's Q3 2024 earnings call, the company provided robust operational and financial guidance, reflecting a successful quarter fueled by strategic acquisitions and consistent production performance. The company reported an adjusted EBITDAX of $92.8 million for Q3 and $227 million for the first nine months of 2024, underscoring its strong financial health. Production guidance for Q4 2024 was set between 23,800 and 26,700 working interest barrels of oil equivalent per day and 19,400 to 22,000 NRI barrels of oil equivalent per day. The Svenska acquisition was highlighted as a key driver of increased production, with VAALCO's sales rising by 20% compared to Q2 2024. The company also maintained its commitment to shareholder returns, announcing its quarterly dividend for Q4. As VAALCO continues to execute its strategic initiatives, the company's diversified asset portfolio positions it to achieve sustained growth, with 2025 guidance expected to be reported in the first quarter of next year.Svenska Acquisition Boosts Reserves
Completion of the Svenska acquisition in April 2024 led to a 30% increase in SEC net proved reserves, surpassing initial expectations with 16.9 million barrels of oil equivalent.
Significant Increase in Adjusted EBITDAX
Adjusted EBITDAX for Q3 increased to $92.8 million, contributing to a total of $227 million for the first 9 months of 2024, which is over $40 million more than the same period in 2023.
Strong Performance in Canada
Successful drilling in Canada with production results in line with type curves, contributing to an increase in production from new wells with a 75% liquids mix in Q3.
Safety Milestone in Egypt
Achieved over 2.9 million man hours without a lost time incident in Egypt, reflecting a strong commitment to safety and operational excellence.
No Bank Debt and Strong Cash Reserves
VAALCO remains bank debt-free with unrestricted cash growing to $89.1 million by the end of Q3.
Successful Completion of ERP Project
Completed a cloud-based ERP implementation on time and within budget, streamlining operations across global geographies.
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EGY 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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EGY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $5.47 | $5.37 | -1.83% |
| Aug 07, 2024 | $5.84 | $6.33 | +8.39% |
| May 07, 2024 | $6.11 | $5.86 | -4.09% |
| Mar 13, 2024 | $4.32 | $5.17 | +19.68% |
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 Vaalco Energy Inc (EGY) report earnings?
Vaalco Energy Inc (EGY) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is Vaalco Energy Inc (EGY) earnings time?
Vaalco Energy Inc (EGY) earnings time is at Mar 05, 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 EGY EPS forecast?
EGY EPS forecast for the fiscal quarter 2024 (Q4) is $0.12.
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