NASDAQ$VNOM
VIPER ENERGY INC-CL A · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Viper Energy's financial performance was strong, marked by increased production and strategic moves towards becoming a Delaware corporation.
Viper Energy Partners LP reported a strong Q3 2023, with record average production, significant lease bonus income, and solid net income. The company also announced its conversion into a Delaware corporation and completed the GRP Acquisition, enhancing its asset base and future growth prospects. Production guidance for Q4 2023 and full year 2024 was also provided.
- Q3 2023 average production reached a record high of 22,141 bo/d (40,446 boe/d), up 4.7% from Q2 2023 and 11.4% year-over-year.
- The company received $97.4 million in lease bonus income during the quarter.
- Consolidated net income for Q3 2023 was $207.2 million, with $78.6 million attributable to Viper Energy Partners LP, or $1.11 per common unit.
- Viper repurchased 0.4 million common units in Q3 2023 for $9.6 million, averaging $26.22 per unit.
Headline financials
Revenue & EPS history
Viper Energy · Revenue · Quarterly
$196M
Revenue by segment
Viper Energy · $856M total across 5 segments · Q4 2025
- Royalty Income$422M—49.3%
- Oil Income$357M—41.7%
- Natural Gas Liquids Income$49M—5.7%
- Natural Gas Income$16M—1.9%
- Lease Bonus Income$12M—1.4%
Forward guidance
Viper Energy provided production guidance for Q4 2023 and preliminary guidance for full year 2024, anticipating continued growth and the integration of the GRP Acquisition.
Tailwinds
- Q4 2023 average daily production is projected to be between 24,250 and 24,750 bo/d (43,250 to 44,250 boe/d).
- Including the GRP Acquisition, pro forma oil production for Q4 2023 would be roughly 1,500 bo/d higher.
- Full year 2023 average daily production is expected to be approximately 22,000 bo/d (39,250 boe/d).
- Preliminary full year 2024 average daily production is guided at 25,500 to 27,500 bo/d (44,500 to 48,000 boe/d).
- Q4 2024 production is expected to be roughly 5% higher than pro forma Q4 2023.
Headwinds
- Production in Q1 2024 is expected to decline 2-3% quarter-over-quarter on a pro forma basis.
- Depletion costs are estimated between $9.50 and $10.00 per BOE.
- Cash G&A expenses are projected to be $0.50 to $0.60 per BOE.
- Interest expense is expected to be $3.00 to $3.25 per BOE.
- Cash taxes for Q4 2023 are estimated between $13.0 and $17.0 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.6%
Avg return
Earnings day
+1.3%
Avg return
5 days after
+0.9%
Avg return
30 days after
55%
24 / 44 earnings
Positive
+9.1%
Q2 2019
Best reaction
-7.4%
Q1 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.6% | -4.9% | -9.0% | |
| Q4 2025 | -0.5% | +3.5% | +6.4% | |
| Q3 2025 | -3.0% | -0.7% | +5.8% | |
| Q2 2025 | -0.2% | +0.8% | +4.1% | |
| Q1 2025 | -3.4% | -2.0% | -2.9% | |
| Q4 2024 | -4.8% | -1.6% | -6.2% | |
| Q3 2024 | +0.9% | +4.4% | -0.2% | |
| Q2 2024 | +7.0% | +12.8% | +15.2% | |
| Q1 2024 | -6.2% | -5.0% | -3.5% | |
| Q4 2023 | +0.9% | +1.8% | +6.5% | |
| Q3 2023 | +3.0% | +6.5% | +3.6% | |
| Q2 2023 | +7.8% | +8.1% | +5.9% | |
| Q1 2023 | -4.6% | -6.5% | -12.4% | |
| Q4 2022 | -2.4% | -3.9% | -10.4% | |
| Q3 2022 | -0.3% | -3.0% | -8.9% | |
| Q2 2022 | -0.2% | -6.0% | -0.7% | |
| Q1 2022 | +7.9% | +6.2% | +17.7% | |
| Q4 2021 | +5.1% | +8.7% | +14.6% | |
| Q3 2021 | +2.3% | +4.2% | -6.3% | |
| Q2 2021 | -0.2% | -0.4% | +2.2% | |
| Q1 2021 | +0.0% | +5.1% | +3.7% | |
| Q4 2020 | +5.1% | -1.8% | -2.7% | |
| Q3 2020 | +6.7% | +7.3% | +64.3% | |
| Q2 2020 | +0.9% | +0.1% | -5.9% | |
| Q1 2020 | -4.9% | +2.8% | +31.9% | |
| Q4 2019 | +3.2% | +8.5% | -65.7% | |
| Q3 2019 | -7.0% | -7.4% | -9.1% | |
| Q2 2019 | +9.1% | +6.8% | -1.3% | |
| Q1 2019 | -7.4% | -7.1% | -18.5% | |
| Q4 2018 | +2.3% | +0.3% | +4.0% | |
| Q3 2018 | -2.5% | -10.6% | -20.9% | |
| Q2 2018 | +4.3% | +1.3% | +5.2% | |
| Q1 2018 | +5.7% | +5.8% | +13.1% | |
| Q4 2017 | -3.8% | -5.4% | -5.6% | |
| Q3 2017 | +1.8% | +4.6% | +8.5% | |
| Q2 2017 | +3.5% | +3.0% | -0.6% | |
| Q1 2017 | +4.5% | +5.9% | +0.5% | |
| Q4 2016 | +0.3% | -1.2% | -0.7% | |
| Q3 2016 | +0.4% | +7.4% | +12.8% | |
| Q2 2016 | +1.0% | +3.9% | +0.9% | |
| Q1 2016 | -4.0% | — | — | |
| Q3 2015 | +2.0% | — | — | |
| Q2 2015 | -5.4% | — | — | |
| Q2 2014 | +4.5% | — | — | |
| Q4 2013 | — | — | — |
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