Vitesse Energy (VTS) Misses Q3 Earnings and Revenue Estimates

Company Performance - Vitesse Energy reported quarterly earnings of $0.24 per share, missing the Zacks Consensus Estimate of $0.41 per share, and down from $0.38 per share a year ago, representing an earnings surprise of -41.46% [1] - The company posted revenues of $58.28 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 12.94%, compared to year-ago revenues of $55.05 million [2] - Over the last four quarters, Vitesse has surpassed consensus EPS estimates just once, while it has topped consensus revenue estimates three times [2] Stock Performance - Vitesse shares have increased by approximately 12.8% since the beginning of the year, while the S&P 500 has gained 20.1% [3] - The current consensus EPS estimate for the coming quarter is $0.50 on revenues of $72.79 million, and for the current fiscal year, it is $1.42 on revenues of $267.58 million [7] Industry Outlook - The Oil and Gas - Exploration and Production - United States industry is currently in the bottom 18% of over 250 Zacks industries, indicating potential challenges for stocks within this sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that the outlook for the industry can significantly impact stock performance [5][8]