NYSE$VTLE
Vital Energy Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Vital Energy's financial performance in Q3 2023 was marked by record production, exceeding guidance, and strategic acquisitions, leading to strong financial results.
Vital Energy reported a successful third quarter in 2023, characterized by record production levels that surpassed guidance, strategic acquisitions, and efficient capital investments, resulting in robust financial performance and strong free cash flow generation.
- Net income was reported at $4.9 million, with adjusted net income reaching $95.8 million.
- Consolidated EBITDAX amounted to $286.5 million, and free cash flow was $91.3 million.
- Oil production averaged 49.0 MBO/d, and total production averaged 101.7 MBOE/d, both company records.
- Capital expenditures were below guidance at $158.2 million.
Headline financials
Revenue & EPS history
Vital Energy · Revenue · Quarterly
$436M
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
Vital Energy provided fourth-quarter 2023 guidance for production and capital investments. Total production is expected to be between 101.8 - 105.8 MBOE/d, with oil production between 47.9 - 50.9 MBO/d. Capital investments are projected to be $175 - $190 million.
Tailwinds
- Total production guidance was increased by 3.8 MBOE/d.
- Oil production guidance was increased by 1.4 MBO/d.
- Lower than expected investments are related to the earlier completion of acquired wells.
- The impact of including their capital in purchase price adjustments.
- Average oil sales price is expected to be 101% of WTI.
Headwinds
- Average NGL sales price is expected to be 16% of WTI.
- Average natural gas sales price is expected to be 44% of Henry Hub.
- Net settlements paid for matured commodity derivatives for oil are expected to be $(29) million.
- Lease operating expenses are expected to be $8.35/BOE.
- Production and ad valorem taxes are expected to be 6.50% of oil, NGL, and natural gas sales revenues.
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 Q3 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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