VTS Earnings Prediction
The chart below shows how VTS performed 10 days before and after its earnings report, based on data from the past quarters. Typically, VTS sees a +2.26% change in stock price 10 days leading up to the earnings, and a +6.87% change 10 days following the report. On the earnings day itself, the stock moves by +0.63%. This data can give you a slight idea of what to expect for the next quarter's release.
VTS Key Earning Data
2024/Q4
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VTS Earnings Analysis
Vitesse Energy Inc Corporation (VTS.N) Earnings Conference Call
Positive
Increased Shareholder Dividends: In 2024, Vitesse Energy returned capital to shareholders, increasing dividends to $4.07 per share since the spinoff in January 2023.
Accretive Acquisition Benefits: The acquisition of Lucero Energy Corp is expected to be immediately accretive to key financial metrics, bolstering the dividend and strengthening the balance sheet.
Quarterly Dividend Increase: The Board declared a quarterly dividend of $0.5625 per common share, representing a 7% increase sequentially.
Production Forecast Increase: Production for 2024 was just over 13,000 barrels of oil equivalent per day, with expectations for the first quarter of 2025 to be between 14,000 and 15,000 Boe per day.
Proved Reserves Overview: Total proved reserves at year-end 2024 were 40.3 million barrels of oil equivalent, with a PV-10 value of $586.6 million, 78% of which were proved developed reserves.
Oil Production Hedging Strategy: Vitesse has approximately 53% of its oil production hedged at a weighted average price of $71.16 per barrel for 2025, mitigating the impact of commodity price changes.
Natural Gas Hedging Strategy: The company added natural gas hedges for the first time, with 15% of natural gas production hedged at a weighted average floor of $3.73 and ceiling of $4.88 per MMBtu.
Strong Financial Performance: Adjusted EBITDA for 2024 was $156.8 million, and adjusted net income was $35.7 million, indicating strong financial performance.
Conservative Debt Management: At the end of 2024, Vitesse had total debt of $117 million, with a net debt to adjusted full year EBITDA ratio of just 0.7 times, reflecting a conservative balance sheet.
Production Increase Forecast: Production guidance for 2025 anticipates an increase to 17,000 to 18,000 Boe per day, representing a 35% increase at the midpoint compared to 2024 levels.
Negative
Production Performance Overview: Production for the year was just over 13,000 barrels of oil equivalent per day, which was at the lower end of guidance due to some larger working interest wells not being brought online during Q4.
Price Decrease Impact: Net realized prices decreased by $4.09 a barrel for oil and $0.51 per Mcf for natural gas between 2023 and 2024, impacting total proved reserves and their PV-10 value.
Proved Reserves Valuation Impact: The total proved reserves at year end had a PV-10 value of $586.6 million, which was affected by the reduction in commodity prices, indicating vulnerability to market fluctuations.
Adjusted EBITDA Performance: Adjusted EBITDA for the year was $156.8 million, which may not meet investor expectations given the previous year's performance and market conditions.
Capital Expenditure Analysis: Cash CapEx and acquisition costs combined for the year were at the midpoint of revised guidance of $115.2 million, indicating potential overspending or mismanagement of capital allocation.
Production and CapEx Unpredictability: Production and CapEx can be lumpy during the year, suggesting unpredictability in financial performance and operational efficiency.
VTS FAQs
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VTS Earning Call Sentiment
Vitesse Energy, Inc. (VTS) Q4 2024 Earnings Call Transcript
VTS.N
1.02%Positive
The earnings call summary highlights positive aspects such as a 7% production growth, reduced CapEx, increased dividends, and strategic hedging. Despite regulatory and commodity price risks, the company maintains a strong financial position with low debt-to-EBITDA ratio. The Q&A section reveals management's cautious yet optimistic approach to acquisitions and dividends. The dividend increase and production growth, coupled with effective debt management, suggest a positive outlook. However, the lack of clarity on CapEx specifics and supply chain challenges temper the sentiment slightly, resulting in a positive but not strong positive rating.
