NYSE$VTLE
Vital Energy Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported record quarterly production and strategically expanded inventory.
Vital Energy reported record quarterly total and oil production, with 129.4 MBOE/d and 59.2 MBO/d, respectively. Net income was $36.7 million, and Adjusted Free Cash Flow was $44.7 million. The company also increased its full-year 2024 total and oil production forecast and increased estimated sub-$50 WTI breakeven locations by ~45%.
- Delivered Company-record quarterly total and oil production, producing 129.4 thousand barrels of oil equivalent per day and 59.2 thousand barrels of oil per day, respectively.
- Reported net income of $36.7 million, Adjusted Net Income of $55.0 million and cash flows from operating activities of $338.4 million.
- Generated Consolidated EBITDAX of $290.4 million and Adjusted Free Cash Flow of $44.7 million.
- Announced the acquisition of the assets of Point Energy Partners in July, which is expected to add approximately 15.5 MBOE/d of production and 68 gross oil-weighted locations at closing.
Headline financials
Revenue & EPS history
Vital Energy · Revenue · Quarterly
$476M
Revenue by segment
Vital Energy · $435M total across 3 segments · Q3 2023
- Oil Sales$375M+20.3%86.3%
- NGL Sales$38.3M-35.5%8.8%
- Natural Gas Sales$21.2M-71.2%4.9%
Forward guidance
The Company increased its full-year 2024 total production guidance to 127.0 - 131.0 MBOE/d and oil production was raised to 59.0 - 61.0 MBO/d, including volumes in the fourth quarter associated with the Point acquisition. Full-year 2024 capital investments guidance was adjusted to $820 - $870 million, including capital in the fourth quarter associated with the Point acquisition. LOE for the second half of 2024 is expected to average approximately $9.15 per BOE.
Tailwinds
- Full-year 2024 total production guidance increased to 127.0 - 131.0 MBOE/d.
- Full-year 2024 oil production raised to 59.0 - 61.0 MBO/d.
- Includes volumes in the fourth quarter associated with the Point acquisition.
- Full-year 2024 capital investments guidance adjusted to $820 - $870 million.
- Includes capital in the fourth quarter associated with the Point acquisition.
Headwinds
- LOE for the second half of 2024 is expected to average approximately $9.15 per BOE.
- Third quarter LOE expected to be approximately $8.95 per BOE.
- LOE in the fourth quarter is expected to be approximately $9.35 per BOE, including operating expenses associated with the Point acquisition.
- Higher-than-expected workover activity on recently acquired acreage is offsetting recent reductions in water handling and chemical treating.
- No other specific negative guidance details provided.
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 2024
-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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