Overview

* Vital Energy ( VTLE ) reports Q3 net loss of $353.5 mln due to $420 mln impairment loss

* Adjusted net income for Q3 beats analyst expectations

* Company reduces net debt by $24.5 mln, maintains strong cash flow

Outlook

* Vital Energy ( VTLE ) will not provide guidance due to pending merger with Crescent Energy

* Company's prior guidance should not be relied upon due to merger

Result Drivers

* OPERATIONAL EXECUTION - Co exceeded production guidance and turned in-line 26 wells, including a 12-well package, per CEO Jason Pigott

* COST DISCIPLINE - Co focused on cost discipline, contributing to strong cash flow and debt reduction

*

Results were impacted by a non-cash pre-tax impairment loss on oil and gas properties of $420.0 million

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Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS -$9.35

Q3 Beat $57.6 $51.76

Adjusted mln mln (12

Net Analysts

Income )

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the oil & gas exploration and production peer group is "buy."

* Wall Street's median 12-month price target for Vital Energy Inc ( VTLE ) is $18.00, about 12.7% above its October 31 closing price of $15.71

* The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 3 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)