Workflow
Vitesse Energy (VTS) Misses Q3 Earnings and Revenue Estimates
VTSVitesse Energy(VTS) ZACKS·2024-11-05 00:15

Company Performance - Vitesse Energy reported quarterly earnings of 0.24pershare,missingtheZacksConsensusEstimateof0.24 per share, missing the Zacks Consensus Estimate of 0.41 per share, and down from 0.38pershareayearago,representinganearningssurpriseof−41.460.38 per share a year ago, representing an earnings surprise of -41.46% [1] - The company posted revenues of 58.28 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 12.94%, compared to year-ago revenues of 55.05million[2]−Overthelastfourquarters,VitessehassurpassedconsensusEPSestimatesjustonce,whileithastoppedconsensusrevenueestimatesthreetimes[2]StockPerformance−Vitesseshareshaveincreasedbyapproximately12.855.05 million [2] - Over the last four quarters, Vitesse has surpassed consensus EPS estimates just once, while it has topped consensus revenue estimates three times [2] Stock Performance - Vitesse shares have increased by approximately 12.8% since the beginning of the year, while the S&P 500 has gained 20.1% [3] - The current consensus EPS estimate for the coming quarter is 0.50 on revenues of 72.79million,andforthecurrentfiscalyear,itis72.79 million, and for the current fiscal year, it is 1.42 on revenues of $267.58 million [7] Industry Outlook - The Oil and Gas - Exploration and Production - United States industry is currently in the bottom 18% of over 250 Zacks industries, indicating potential challenges for stocks within this sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that the outlook for the industry can significantly impact stock performance [5][8]