Vitesse Energy Announces Third Quarter 2024 Results, Revised 2024 Guidance and Preliminary 2025 Outlook
Vitesse Energy, Inc. (VTS)
Company Research
Source: Business Wire
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Vitesse Energy, Inc. (NYSE: VTS) (“we,” “our,” “Vitesse,” or the “Company”) today reported the Company’s third quarter 2024 financial and operating results, revised 2024 guidance, and provided a preliminary outlook for 2025.THIRD QUARTER 2024 HIGHLIGHTSAs previously announced, declared a quarterly cash dividend of $0.525 per common share to be paid on December 31, 2024Net income of $17.4 million and Adjusted Net Income(1) of $7.6 millionAdjusted EBITDA(1) of $37.6 millionCash flow from operations of $45.7 million and Free Cash Flow(1) of $18.6 millionProduction of 13,009 barrels of oil equivalent (“Boe”) per day (68% oil)Total cash development capital expenditures and acquisition costs of $17.2 millionTotal debt of $105.0 million and Net Debt to Adjusted EBITDA ratio(1) of 0.68(1) Non-GAAP financial measure; see reconciliation schedules at the end of this releaseMANAGEMENT COMMENTS“In the third quarter we generated cash flow exceeding our
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VTS
News
- Vitesse Energy, Inc. (NYSE: VTS) was downgraded by analysts at Alliance Global Partners from a "buy" rating to a "neutral" rating. They now have a $26.00 price target on the stock.MarketBeat
- Vitesse Energy Declares $0.525 Quarterly Cash DividendBusiness Wire
- Vitesse Energy Announces Third Quarter 2024 Earnings Release Date and Conference CallBusiness Wire
VTS
Earnings
- 11/4/24 - Beat
VTS
Sec Filings
- 11/4/24 - Form 10-Q
- 11/4/24 - Form 8-K
- 10/30/24 - Form 8-K
- VTS's page on the SEC website