Vermilion Energy (VET)
NYSE:VET
Earnings Data
Report Date
May 13, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.34Last Year’s EPS
0.07Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized significant positive developments: record production, a 36% increase in 2P reserves, strong realized gas pricing (roughly 2x AECO), improved cost structure, European well outperformance (Osterheide +40% vs Q3) and tangible balance sheet actions (debt reduction and retained stake). Near‑term challenges include cyclone‑related downtime in Australia, some technical reserve revisions from portfolio high‑grading, localized natural declines, and hedging/liquidity considerations. Overall the positive operational, reserve and financial trends materially outweigh the operational hiccups and conservative near‑term impacts.Company Guidance
Record Production and Strong Operational Performance
Delivered record annual production in 2025 with Q4 production of 121,308 BOE/d (ahead of guidance); Q1 2026 outlook 122,000–124,000 BOE/d. Q4 production was ~5,000 BOE/d higher than Q3 on a normalized basis after dispositions.
Material Reserves Growth
Total proved plus probable (2P) reserves increased 36% year-over-year to 592 million BOE. Added 86 million BOE of PDP and 201 million BOE of 2P in 2025. 2P reserve life index ~14 years.
Attractive Finding & Development Economics
Average F&D + A costs including future development: $14.91/BOE for PDP and $7.71/BOE for 2P, implying recycle ratios of ~1.8x (PDP) and 3.5x (2P), highlighting capital efficiency of reserve additions.
Strong Realized Gas Pricing and Market Diversification
Realized gas price of ~$5.50/Mcf in the quarter (approximately double AECO), supported by direct European exposure (TTF averaged ~$15/MMBtu in Q4 and referenced >$20/MMBtu later). Hedging in place (~50% European gas for 2026, 45% North American gas, 53% oil).
Q4 Cash Generation and 2026 Outlook
Q4 funds flow from operations of $241 million, Q4 E&D capital of $192 million, producing Q4 free cash flow of $49 million. Management projects FFO for 2026 around $950 million and notes roughly a 40% increase to excess free cash flow under updated commodity moves.
European Development Success & Upside
Osterheide well outperformed (production ~40% higher vs Q3) and generated ~ $8 million of free cash flow in Q4. Brought 2 Netherlands wells on production in Q4; Wisselshorst discovery (Vermilion 64% WI) included ~7 million BOE (43 Bcf) in 2P and expected online mid‑2026. Identified additional high‑upside drilling locations (e.g., up to 6 on Bommelsen).
Deep Basin & Montney Outperformance
Deep Basin drilling program produced multiple highly productive wells (three of the most productive gas wells in December were Vermilion owned). Montney delivered record volumes in Q4 and program additions scheduled for Q2 2026. Large landbase: ~1.3M net acres in Deep Basin/Montney and ~1.4M net acres in Germany/Netherlands with an internal estimate of ~1,700 drilling locations (only ~23% booked).
Balance Sheet Actions and Capital Allocation
Accelerated debt reduction via sale of part of Coelacanth stake: $42 million incremental debt reduction and $12 million realized gain while retaining 10% ownership. Management emphasizes disciplined capital allocation, debt reduction and returning capital via dividends/buybacks.
Lower Cost Structure
Unit operating costs in Canada now the lowest in over a decade and overall corporate unit costs the lowest since 2020, supported by scale, infrastructure investments (e.g., Mica) and portfolio high‑grading.
VET Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
VET Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 04, 2026 | $11.45 | $11.26 | -1.73% |
Nov 05, 2025 | $7.20 | $7.81 | +8.45% |
Aug 08, 2025 | $7.29 | $7.08 | -2.80% |
May 07, 2025 | $5.85 | $6.02 | +2.96% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Vermilion Energy (VET) report earnings?
Vermilion Energy (VET) is schdueled to report earning on May 13, 2026, Before Open (Confirmed).
What is Vermilion Energy (VET) earnings time?
Vermilion Energy (VET) earnings time is at May 13, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VET EPS forecast?
VET EPS forecast for the fiscal quarter 2026 (Q1) is 0.34.