Vermilion Energy (VET) Reports Q2 Loss, Lags Revenue Estimates

Core Viewpoint - Vermilion Energy reported a quarterly loss of $0.38 per share, missing the Zacks Consensus Estimate of $0.31, and a significant decline from earnings of $0.57 per share a year ago, indicating a negative earnings surprise of -222.58% [1] Financial Performance - The company posted revenues of $350.04 million for the quarter ended June 2024, which was 7.04% below the Zacks Consensus Estimate and a slight decrease from $350.94 million in the same quarter last year [2] - Over the last four quarters, Vermilion has surpassed consensus EPS estimates two times but has not beaten consensus revenue estimates [2] Stock Performance - Vermilion shares have declined approximately 14.5% since the beginning of the year, contrasting with the S&P 500's gain of 14% [3] - The current Zacks Rank for Vermilion is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.46 on revenues of $398.21 million, and for the current fiscal year, it is $1.24 on revenues of $1.55 billion [7] - The trend of estimate revisions for Vermilion is mixed, which could change following the recent earnings report [6] Industry Context - The Oil and Gas - Exploration and Production - International industry, to which Vermilion belongs, is currently ranked in the top 33% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]