Oil and gas producer Vitesse Energy (NYSE:VTS) will be announcing earnings results this Monday after market close. Here's what investors should know.
Vitesse Energy beat analysts' revenue expectations last quarter, reporting revenues of $91 million, up 11.3% year on year. It was an incredible quarter for the company, with a beat of analysts' EPS estimates and an impressive beat of analysts' EBITDA estimates. It reported a year-on-year oil production decline of 16%.
Is Vitesse Energy a buy or sell going into earnings? Read our full analysis here, it's free for active Edge members .
This quarter, the market is expecting Vitesse Energy's revenue to grow 16.1% year on year, in line with the 15.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Vitesse Energy has missed Wall Street's revenue estimates multiple times over the last two years.
Looking at Vitesse Energy's peers in the upstream & integrated segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Weatherford's revenues decreased 7.2% year on year, beating analysts' expectations by 0.8%, and Expand Energy reported revenues up 11.6%, topping estimates by 54.4%. Weatherford traded up 7.8% following the results while Expand Energy was down 3.2%.
Read our full analysis of Weatherford's results here and Expand Energy's results here .
There has been positive sentiment among investors in the upstream & integrated segment, with share prices up 6.2% on average over the last month. Vitesse Energy is up 8.4% during the same time and is heading into earnings with an average analyst price target of $21.50 (compared to the current share price of $18.30).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot.While Wall Street obsesses over who's building AI, one company is already using it to print money. And nobody's paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won't last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice .
