Vista Energy (VISTAA) Q4 2024 earnings summary

Executive summary

• Achieved double-digit growth in production and Adjusted EBITDA for 2024, delivering on guidance for both metrics and robust operational performance.

• Total production grew 51% year-over-year and 17% sequentially in Q4 2024, driven by the tie-in of up to 50 new wells and strong shale oil development.

• P1 reserves increased 18% year-over-year to 375 million BOEs, with a reserves replacement ratio of 323%.

• Significant progress in sustainability, reducing GHG emissions intensity by 44% year-over-year.

• Share price increased 83% year-over-year, reflecting strong operational and financial performance.

Financial highlights

• Q4 2024 total production reached 85,300 BOEs/day, up 51% year-over-year and 17% sequentially.

• Q4 revenues were $471 million, 52% higher year-over-year; Adjusted EBITDA was $273 million, down 5% year-over-year but up 27% excluding one-time export repatriation effects.

• Q4 net income was $94 million (EPS $0.98); adjusted net income was $22 million after deferred tax.

• Free cash flow in Q4 was $57 million; cash at period end was $764 million.

• Full-year Adjusted EBITDA grew 25% to $1.1 billion; EPS increased 18% to $5 per share.

Outlook and guidance

• 2025 production guidance: 95,000–100,000 barrels of oil per day, implying 35–40% growth.

• Q1 2025 production expected to be flat or slightly lower sequentially, with ramp-up planned for Q3 and Q4.

• Lifting costs for 2025 guided between $4.3 and $4.5 per barrel.

• CapEx for 2025 expected between $1 and $1.3 billion, excluding Vaca Muerta Sur investment.

• 2025 targets updated after securing drilling and completion equipment and oil midstream capacity.