VITAL ENERGY Reports Record Second Quarter Earnings for FY2023
August 22, 2023
☀️Earnings Overview
On August 8, 2023, VITAL ENERGY ($NYSE:VTLE) reported its financial results for the 2nd quarter of FY2023, ending June 30, 2023. The total revenue for the quarter was USD 335.1 million, representing a decrease of 40.2% compared to the same period in the previous year. Net income for the quarter was USD 294.8 million, an increase of 12.3% from the year before.
Market Price
VITAL ENERGY reported record second quarter earnings for the fiscal year 2023 on Tuesday. This milestone for the energy company sent their stock price soaring, as it opened the day at $52.2 and closed at $54.6 – up by 1.5% from its previous closing price of $53.8. This marks the highest closing figure for VITAL ENERGY since their initial public offering. This news has been welcomed by investors, who have been particularly bullish on the stock since VITAL ENERGY’s stellar performance was announced. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Vital Energy. More…
| Total Revenues | Net Income | Net Margin |
| 1.5k | 864.5 | 54.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Vital Energy. More…
| Operations | Investing | Financing |
| 655.63 | -1.02k | 289.76 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Vital Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.82k | 2.21k | 86.23 |
Key Ratios Snapshot
Some of the financial key ratios for Vital Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 27.2% | 97.8% | 50.7% |
| FCF Margin | ROE | ROA |
| -32.0% | 33.5% | 12.4% |
Analysis
At GoodWhale, we have recently conducted an analysis of VITAL ENERGY‘s wellbeing and identified two risk warnings in their income sheet and balance sheet. Our Risk Rating for VITAL ENERGY is medium, which means that there is some financial and business risk associated with this investment. We encourage potential investors to register with us to get a detailed look at the exact risk warnings we have discovered. Our analysis is comprehensive and takes into account all the relevant financial and business information related to VITAL ENERGY. We strive to provide as much transparency as possible to our customers so that they can make informed decisions when it comes to investments. More…
Peers
The energy sector is an increasingly competitive landscape, with numerous companies vying for market share. Vital Energy is no exception, competing with Arkanova Energy Corp, Grizzly Energy LLC, and PEDEVCO Corp to provide the best energy solutions to their customers. With each company offering different products and services, the competition between them is intense, as they strive to differentiate themselves in the market.
– Arkanova Energy Corp ($OTCPK:AKVA)
Arkanova Energy Corp is an energy and utility company that specializes in providing power to homes and businesses in the Southwest. The company has a market cap of 135.46k as of 2023 and a Return on Equity (ROE) of 10.93%. This implies that for every dollar of equity, the company is generating $0.11 of profits, indicating that the company is efficiently managing its assets and liabilities. The company has a strong balance sheet and is well positioned to capitalize on the increasing demand for energy as the population continues to grow in the Southwest.
– Grizzly Energy LLC ($OTCPK:GRZZU)
PEDEVCO Corp is an energy company that focuses on the acquisition, exploration and development of oil, gas and mineral properties. The company has a market cap of 88.78M as of 2023, making it a mid-sized energy company in comparison to its competitors. Additionally, the company has exhibited strong financial performance through its Return on Equity (ROE) of 1.82%. This indicates that PEDEVCO Corp is able to generate returns from investments that exceed the cost of capital, thus allowing them to grow shareholder value.
Summary
VITAL ENERGY reported positive earnings results for its second quarter of FY2023. Total revenue for the quarter decreased 40.2% year-on-year to USD 335.1 million, while net income increased 12.3% to USD 294.8 million. Investors should watch out for any further updates on the company’s cost-cutting measures, marketing strategy and product offerings. Furthermore, any potential new partnerships or collaborations may provide insight into long-term growth opportunities.
In addition, investors should keep an eye on developments in the industry as a whole, in order to analyze VITAL ENERGY’s competitive edge.
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