Vista Energy (VIST) saw its stock price surge by 5.08% on Thursday, following the release of its third-quarter 2024 earnings report. The company reported a strong operational and financial performance, driven by significant growth in production and revenue, as well as plans for further capacity expansion.
The key highlights from the Q3 2024 earnings call include a 47% year-over-year increase in total production, reaching 72.8 Mboe per day. Oil production witnessed an impressive 53% annual growth, hitting 63.5 Mbbl per day. This robust production growth translated into a 53% year-over-year increase in total revenues, which reached $462 million for the quarter.
Adjusted EBITDA also saw a notable 37% year-over-year increase, reaching $310 million, supported by robust revenue growth and lower lifting costs. The company's adjusted EBITDA margin stood at an impressive 65% during the quarter.
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