VAALCO Q3 2021 Earnings Report
Key Takeaways
VAALCO Energy, Inc. reported strong Q3 2021 results with a net income of $31.7 million, or $0.53 per diluted share. The company benefited from increased sales, higher realized pricing, and a $22.7 million non-cash deferred tax benefit. VAALCO also announced a quarterly cash dividend policy commencing in the first quarter of 2022.
Reported net income of $31.7 million ($0.53 per diluted share) driven by increased sales, higher realized pricing, and a $22.7 million non-cash deferred tax benefit.
Generated $10.0 million ($0.17 per diluted share) of Adjusted Net Income.
Adjusted EBITDAX grew to $23.3 million.
Cash balance grew to $52.8 million as of September 30, 2021.
VAALCO
VAALCO
Forward Guidance
VAALCO has updated its full year 2021 guidance which takes into account the results from the first nine months of 2021 and the expectations for the fourth quarter.