Viper Energy (VNOM) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2023, Viper Energy Partners (VNOM) reported revenue of $293.24 million, up 32.3% over the same period last year. EPS came in at $1.10, compared to $0.98 in the year-ago quarter.
The reported revenue represents a surprise of +49.34% over the Zacks Consensus Estimate of $196.36 million. With the consensus EPS estimate being $0.46, the EPS surprise was +139.13%.
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.
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: 40,446 BOE/D compared to the 38,286.12 BOE/D average estimate based on 10 analysts.
Average sales prices - Crude Oil: $82.48 compared to the $78.85 average estimate based on five analysts.
Average sales prices - Natural gas liquids: $21.58 versus $23.52 estimated by five analysts on average.
Average sales prices - Natural Gas: $1.81 compared to the $1.58 average estimate based on five analysts.
Production - Crude Oil: 2,037 MBBL versus the four-analyst average estimate of 2,021.18 MBBL.
Total Production: 3,721 MBOE compared to the 3,513.36 MBOE average estimate based on four analysts.
Production - NGL: 867 MBBL versus 734.23 MBBL estimated by four analysts on average.
Production - Natural Gas: 4,900 MMcf versus the four-analyst average estimate of 4,547.45 MMcf.
Average sales prices - Natural gas, hedged: $1.47 versus $1.49 estimated by three analysts on average.
Average sales prices - Oil, hedged: $81.44 compared to the $80.82 average estimate based on three analysts.
Other operating income: $0.19 million versus the two-analyst average estimate of $0.29 million.
Royalty income: $195.61 million versus $177.30 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -11.1% change.
View all Key Company Metrics for Viper Energy here>>>
Shares of Viper Energy have returned +3.3% over the past month versus the Zacks S&P 500 composite's +3.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Viper Energy Partners LP (VNOM) : Free Stock Analysis Report
