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Viper Energy (VNOM) Reports Q2 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

For the quarter ended June 2023, Viper Energy Partners (VNOM) reported revenue of $160.79 million, down 32.8% over the same period last year. EPS came in at $0.47, compared to $0.43 in the year-ago quarter.

The reported revenue represents a surprise of +0.76% over the Zacks Consensus Estimate of $159.57 million. With the consensus EPS estimate being $0.21, the EPS surprise was +123.81%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Viper Energy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Average daily combined volumes: 37681 BOE/D versus 36590.61 BOE/D estimated by nine analysts on average.

  • Average sales prices - Natural gas liquids: $19.07 versus the eight-analyst average estimate of $18.52.

  • Average sales prices - Natural Gas: $1.09 compared to the $1.33 average estimate based on four analysts.

  • Average sales prices - Crude Oil: $72.40 compared to the $72.09 average estimate based on four analysts.

  • Average sales prices - Natural gas, hedged: $0.65 versus $1.36 estimated by three analysts on average.

  • Average sales prices - Oil, hedged: $71.39 compared to the $71.78 average estimate based on three analysts.

  • Production - NGL: 724 MBBL compared to the 683.87 MBBL average estimate based on two analysts.

  • Production - Natural Gas: 4685 MMcf versus 4261.29 MMcf estimated by two analysts on average.

  • Production - Crude Oil: 1924 MBBL versus 1986.76 MBBL estimated by two analysts on average.

  • Total Production: 3429 MBOE versus 3381.43 MBOE estimated by two analysts on average.

  • Royalty income: $158.20 million compared to the $150.65 million average estimate based on two analysts. The reported number represents a change of -33.8% year over year.

View all Key Company Metrics for Viper Energy here>>>

Shares of Viper Energy have returned -0.8% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Viper Energy Partners LP (VNOM) : Free Stock Analysis Report

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Zacks Investment Research