Quarterly ResultMay 4, 2026, 04:14 PM
Vitesse Energy Q1 GAAP Net Loss $42.3M; Adjusted EBITDA $33.4M
AI Summary
Vitesse Energy reported a Q1 2026 GAAP net loss of $42.3 million, primarily due to a $48.2 million non-cash unrealized loss on commodity derivatives, while Adjusted Net Loss was $0.3 million. The company achieved Adjusted EBITDA of $33.4 million and Free Cash Flow of $12.0 million, with production slightly exceeding internal expectations at 15,962 Boe per day. Vitesse also announced a new CEO, declared a quarterly dividend of $0.4375 per share, closed a significant acquisition, and expanded its revolving credit facility.
Key Highlights
- Q1 Adjusted Net Loss $0.3M; GAAP Net Loss $42.3M due to $48.2M unrealized derivative loss.
- Adjusted EBITDA reached $33.4M; Free Cash Flow was $12.0M.
- Production averaged 15,962 Boe/day (63% oil), slightly above internal expectations.
- Declared Q2 cash dividend of $0.4375 per common share, payable June 30, 2026.
- Closed Powder River Basin Acquisition for 1.9 million shares of common stock in April 2026.
- Expanded revolving credit facility by $25M to $275M elected commitment in April 2026.
- Total debt stood at $144.5M, with a Net Debt to Adjusted EBITDA ratio of 0.82.
- Reaffirmed 2026 annual production guidance of 16,000-17,500 Boe/day.