Vaalco Energy Earnings: Everything You Must Know Now

Vaalco Energy Inc. (NYSE:EGY) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

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Vaalco Energy Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 20% to $0.12 in the quarter versus EPS of $0.15 in the year-earlier quarter.

Revenue: Decreased 2.63% to $44.1 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Vaalco Energy Inc. reported adjusted EPS income of $0.12 per share. By that measure, the company missed the mean analyst estimate of $0.25.

Quoting Management: Robert Gerry, Chairman and CEO, commented: “The Company got off to a strong start in 2013, making significant headway in our operations in multiple geographic locations. We have commenced production from the successfully-drilled development well offshore Gabon and have made progress on development plans for the discovery area on the Mutamba Iroru block onshore Gabon. We also met with our partners in our Equatorial Guinea block and with the government of Angola regarding our plans to drill wells as soon as practical after the new Block 5 partner is approved. As we move through 2013, we expect to continue to pursue opportunities in our West African portfolio to diversify our sources of production and create value for our shareholders.”

Key Stats (on next page)…

Revenue decreased 17.65% from $53.55 million in the previous quarter. EPS increased to $0.12 in the quarter versus EPS of $-0.20 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.33 to a profit $0.29. For the current year, the average estimate has moved down from a profit of $1.31 to a profit of $1.28 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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