VIST Q4 Earnings Miss Estimates on Lower Realized Crude Prices

Vista Energy VIST reported fourth-quarter 2025 adjusted earnings per share of 49 cents, which missed the Zacks Consensus Estimate of $1.12. The bottom line improved from the prior-year quarter’s level of 23 cents.

The leading independent oil and gas producer’s quarterly revenues of $719 million increased from $471 million in the year-ago period. The top line beat the Zacks Consensus Estimate of $692 million.

Weaker-than-expected quarterly earnings can be primarily attributed to a decline in average realized commodity prices. The increase in total production and decrease in per-unit lifting and selling costs partially offset the negatives.

Vista Energy, S.A.B. de C.V. - Sponsored ADR Price, Consensus and EPS Surprise

Vista Energy, S.A.B. de C.V. - Sponsored ADR price-consensus-eps-surprise-chart | Vista Energy, S.A.B. de C.V. - Sponsored ADR Quote

Q4 Production of Vista Energy

Total production averaged 135,414 barrels of oil equivalent per day (Boe/d), rising 59% from the year-ago quarter’s 85,276 Boe/d. Of the total output, 87% was crude oil. The increase in overall production was primarily driven by the acquisition of a 50% working interest in the La Amarga Chica block in April last year.

Crude oil production increased to 118,285 barrels per day (Bbls/d) from the year-ago quarter’s 73,491 Bbls/d. The rise in oil production can be attributed to the tie-in of 40 net wells during the third and fourth quarters of 2025. Natural gas liquids production increased 54% year over year to 666 Boe/d. Natural gas output rose 45% to 2.62 million cubic meters per day (MMm³/d).

VIST’s Realized Prices

The average realized crude oil price was $58.9 per barrel, down 12% from the $67.1 recorded a year ago.

The average realized natural gas price was $1.80 per million British thermal units (MMBtu), down from $2.30 in the year-ago quarter. Realized natural gas liquids price decreased 4% to $344 per metric ton (tn) from $360/tn in the year-ago quarter.

Lifting and Selling Expenses of VIST

Lifting costs totaled $4.1 per Boe in the December-end quarter of 2025, declining 12% year over year from $4.7. The decrease can be attributed to greater absorption of fixed costs due to higher production and a focus on cost control. Selling expenses in the quarter amounted to $4.2 per Boe, down 48% from the prior-year figure, mainly due to the elimination of trucking after the Oldelval Duplicar pipeline became operational.

VIST’s Balance Sheet & Capital Spending

As of Dec. 31, 2025, Vista Energy had $538.4 million in cash, bank balances and other short-term investments. The company's gross financial debt stood at $3.15 billion as of the same date.

Capital expenditure totaled $355.1 million. Net cash from operating activities was $435.3 million.

VIST's 2026 Guidance

Vista Energy expects total production in 2026 to be around 140 Mboe/d. For 2026, the adjusted EBITDA guidance is projected at $1.9 billion (assuming an average $65/bbl oil price). The CAPEX guidance is forecasted to be between $1.5 billion and $1.6 billion.

VIST’s Zacks Rank and Key Picks

VIST currently has a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks from the energy sector are Archrock Inc. AROC, TechnipFMC plc FTI and Oceaneering International OII. While Archrock and TechnipFMC each sport a Zacks Rank #1 (Strong Buy), Oceaneering carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues. With natural gas playing an increasingly important role in the energy transition journey, AROC is expected to witness sustained demand for its services.

TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company ended the year with a strong backlog of $16.6 billion, providing revenue visibility. FTI prioritizes rewarding its investors, having returned $1 billion to shareholders in 2025.

Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading provider of offshore equipment and technology solutions to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.

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This article originally published on Zacks Investment Research (zacks.com).

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