Vital Energy Inc. (NYSE: VTLE) saw its stock price plummet by 5.02% in intraday trading on Friday, following the release of the company's full-year 2024 financial results, which fell short of analyst expectations.
The oil and gas company reported a net loss of $174.2 million for the fiscal year 2024, a significant decline from the $694.6 million profit recorded in the previous year. Additionally, Vital Energy's revenue of $1.95 billion missed analyst estimates by 1.4%, while the reported earnings per share (EPS) of -$4.74 also fell below expectations.
Looking ahead, Vital Energy's revenue is forecast to grow at an average annual rate of 2.1% over the next two years, which is lower than the 4.5% growth projected for the broader U.S. oil and gas industry. The company's weak financial performance and subdued growth outlook appear to have weighed heavily on investor sentiment, contributing to the stock's sharp decline on Friday.