NYSE$VTLE
Vital Energy Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported second-quarter 2023 financial and operating results, raised estimates for full-year 2023 oil and total production, and reduced expectations for 2023 capital investments.
Vital Energy reported strong second-quarter 2023 results, exceeding production expectations while controlling capital investments and operational expenses. The company generated over $60 million in Free Cash Flow and closed two accretive, high-value oil acquisitions. Increased expectations for full-year 2023 production and reduced capital investment guidance.
- Reported 2Q-23 net income of $294.8 million, Adjusted Net Income of $78.6 million and cash flows from operating activities of $248.9 million.
- Generated 2Q-23 Consolidated EBITDAX of $239.5 million and Free Cash Flow of $60.7 million.
- Reported 2Q-23 oil and total production that exceeded the high-end of Company guidance, producing 44.4 thousand barrels of oil per day, a Company record, and 90.0 thousand barrels of oil equivalent per day.
- Reported 2Q-23 incurred capital expenditures below the low-end of guidance, investing $149 million, excluding non-budgeted acquisitions and leasehold expenditures.
Headline financials
Revenue & EPS history
Vital Energy · Revenue · Quarterly
$335M
Revenue by segment
Vital Energy · $334M total across 3 segments · Q2 2023
- Oil Sales$299M-27.1%89.6%
- NGL Sales$25.9M-64.3%7.8%
- Natural Gas Sales$8.95M-86.6%2.7%
Forward guidance
Vital Energy expects to maintain 2023 production levels in 2024 while holding investment levels relatively flat and growing full-year 2024 Free Cash Flow to approximately $175 million, at current strip commodity prices.
Tailwinds
- Maintain full-year 2023 production levels.
- Hold investment levels relatively flat.
- Grow full-year 2024 Free Cash Flow to approximately $175 million.
- Operate three drilling rigs across the Midland and Delaware basin assets.
- Complete and TIL 70 - 75 gross (58 - 62 net) wells in 2024, a slight increase versus 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports · overlaid with Q2 2023
-0.7%
Avg return
Earnings day
-1.7%
Avg return
5 days after
+0.8%
Avg return
30 days after
46%
26 / 56 earnings
Positive
+12.7%
Q3 2024
Best reaction
-23.2%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q3 2025 | +5.1% | +20.9% | +26.1% | |
| Q2 2025 | -9.4% | -8.8% | -0.4% | |
| Q1 2025 | +7.6% | -3.5% | +18.7% | |
| Q4 2024 | -12.1% | -20.2% | -36.6% | |
| Q3 2024 | +12.7% | +14.7% | +8.3% | |
| Q2 2024 | +2.8% | +2.3% | -22.8% | |
| Q1 2024 | -4.1% | -10.1% | -17.0% | |
| Q4 2023 | +5.0% | +3.9% | +9.5% | |
| Q3 2023 | +6.3% | -3.4% | -8.8% | |
| Q2 2023 | +5.2% | +5.4% | +11.6% | |
| Q1 2023 | -0.9% | -3.3% | +5.4% | |
| Q4 2022 | -3.2% | +6.5% | -16.9% | |
| Q3 2022 | +5.2% | +6.1% | -3.2% | |
| Q2 2022 | -23.2% | -26.0% | -15.2% | |
| Q1 2022 | -6.9% | -19.1% | +45.2% | |
| Q4 2021 | +7.1% | +7.5% | +8.6% | |
| Q3 2021 | -4.5% | — | — | |
| Q2 2021 | -12.7% | — | — | |
| Q1 2021 | -12.4% | — | — | |
| Q4 2020 | +5.3% | — | — | |
| Q3 2020 | +3.7% | — | — | |
| Q2 2020 | -1.2% | — | — | |
| Q1 2020 | -2.0% | — | — | |
| Q4 2019 | -0.6% | — | — | |
| Q3 2019 | -1.2% | — | — | |
| Q2 2019 | +3.9% | — | — | |
| Q1 2019 | +10.6% | — | — | |
| Q4 2018 | +6.1% | — | — | |
| Q3 2018 | +7.6% | — | — | |
| Q2 2018 | -6.8% | — | — | |
| Q1 2018 | -17.8% | — | — | |
| Q4 2017 | +10.0% | — | — | |
| Q3 2017 | -10.3% | — | — | |
| Q2 2017 | -1.1% | — | — | |
| Q1 2017 | -6.7% | — | — | |
| Q4 2016 | +1.0% | — | — | |
| Q3 2016 | +9.4% | — | — | |
| Q2 2016 | +11.8% | — | — | |
| Q1 2016 | +7.7% | — | — | |
| Q4 2015 | -6.1% | — | — | |
| Q3 2015 | -5.2% | — | — | |
| Q2 2015 | +2.8% | — | — | |
| Q1 2015 | -6.7% | — | — | |
| Q4 2014 | -8.5% | — | — | |
| Q3 2014 | +4.7% | — | — | |
| Q2 2014 | -6.8% | — | — | |
| Q1 2014 | -3.7% | — | — | |
| Q4 2013 | -4.9% | — | — | |
| Q3 2013 | -11.8% | — | — | |
| Q2 2013 | +6.7% | — | — | |
| Q1 2013 | -4.0% | — | — | |
| Q4 2012 | +7.0% | — | — | |
| Q3 2012 | -2.2% | — | — | |
| Q2 2012 | -2.4% | — | — | |
| Q4 2011 | +2.2% | — | — | |
| Q1 2012 | +2.2% | — | — |
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