NYSE$VTLE
Vital Energy Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Announced fourth-quarter and full-year 2021 financial and operating results.
Laredo Petroleum reported strong Q4 2021 results, marked by increased oil production, strategic acquisitions, and a focus on capital efficiency and leverage reduction. The company exceeded guidance ranges for both oil and total production, driven by strong well performance in Howard and western Glasscock counties.
- Generated Adjusted EBITDA of $182.2 million and Free Cash Flow of $24.8 million.
- Produced 41,080 barrels of oil per day (BOPD) and 85,240 barrels of oil equivalent per day (BOEPD), exceeding guidance ranges.
- Increased oil cut as a percentage of total production to 48% versus 27% in fourth-quarter 2020.
- Completed 18 wells with 26 turn-in lines (TIL) during the quarter with capital expenditures of $142 million, excluding non-budgeted acquisitions and leasehold expenditures.
Headline financials
Revenue & EPS history
Vital Energy · Revenue · Quarterly
$470M
Revenue by segment
Vital Energy · $401M total across 3 segments · Q4 2021
- Oil Sales$291M+244.1%72.5%
- NGL Sales$58.5M+105.1%14.6%
- Natural Gas Sales$51.9M+148.7%12.9%
Forward guidance
Laredo Petroleum's outlook for 2022 is strong, with a focus on capital-efficient development, free cash flow generation, and leverage reduction. The company expects to achieve its initial leverage target of 1.5x Net Debt/Adjusted EBITDA in the third quarter of 2022 and to be below 1.0x by the second half of 2023, positioning them to return cash to shareholders in early 2023.
Tailwinds
- Capital efficient development
- Generation of Free Cash Flow
- Leverage reduction
- Achieve initial leverage target of 1.5x Net Debt/Adjusted EBITDA in Q3 2022
- Below 1.0x leverage by the second half of 2023
Headwinds
- Industry-wide oil field service inflation
- Additional non-operated investments
- Net settlements paid for matured commodity derivatives: Oil($82 MM)
- Net settlements paid for matured commodity derivatives: NGL($11 MM)
- Net settlements paid for matured commodity derivatives: Natural gas($9 MM)
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 Q4 2021
-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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