Vitesse Q1 net loss $47.8M on $77.4M spin-off charges; adj. net income $15.6M

Vitesse Energy, Inc.

2023-Q1 EPS reported -$1.67 revenue$57,961,000

Net loss of $47.8M includes $44.1M non-cash tax change, $26.8M equity comp acceleration, $6.5M transaction costs.
Adjusted net income $15.6M; Adjusted EBITDA $40.1M, up 6% YoY.
Production 11,524 Boe/d (67% oil), up 20% YoY; total debt $45M, down from $53M at spin-off.
Second quarterly dividend of $0.50/share declared, payable June 30, 2023; $60M buyback authorized, $0.2M repurchased in Q1.
Spin-off from Jefferies completed Jan 13, 2023; company now fully integrated public entity.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Vitesse Energy, Inc. reported the quarter ended March 31, 2023 results: net income First quarter net loss of $47.8 million.

Period: the quarter ended March 31, 2023
Net income: First quarter net loss of $47.8 million
Result: reported results

Exact text from the filing

On May 8, 2023, Vitesse Energy, Inc. (the “Company”) issued a press release announcing its operating and financial results for the quarter ended March 31, 2023.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Vitesse Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001944558-23-000042

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