Why did EGY's Q4 2024 EPS exceed forecasts?

The EPS of EGY's Q4 2024 did not exceed forecasts, as the latest report indicates an EPS of -$0.05, which is below the forecast. Therefore, the company's Q4 2024 EPS did not exceed forecasts. Here are the details:

|code|Ticker|Name|Date|Estimate EPS|EPS Surprise|market_code|
|---|---|---|---|---|---|---|
|EGY|EGY.N|Vaalco Energy|2024 Q1|0.2|-0.14|169|
|EGY|EGY.N|Vaalco Energy|2024 Q2|0.13|0.09|169|
|EGY|EGY.N|Vaalco Energy|2024 Q3|0.14|-0.06|169|
|EGY|EGY.N|Vaalco Energy|2024 Q4|0.12|-0.05|169|

1. **Vaalco Energy's Q4 2024 Financial Performance**:
- **Net Income**: The company reported a net income of $58.5 million for the year, compared to $60.4 million in the previous year. The slight decrease is attributed to higher depreciation, depletion, and amortization expenses.
- **Revenues**: Vaalco Energy's revenues increased to $479 million, up from $455 million in 2023, primarily due to contributions from its Cote d'Ivoire segment following the acquisition of Svenska Petroleum Exploration Aktiebolag.
- **Production Expenses**: Production expenses amounted to $163.5 million, an increase from $153.2 million in 2023, driven by inflationary pressures and adjustments in Gabon.
- **Capital Expenditures**: The company's capital expenditures for 2024 were $109.4 million, with significant investments in Gabon, Egypt, Canada, and Cote d'Ivoire.
- **Cash and Cash Equivalents**: Vaalco Energy's cash and cash equivalents at the end of 2024 were $82.6 million.
2. **Analyst Expectations and Earnings Results**:
- **EPS**: The company reported an EPS of $0.07 for the quarter, which missed the analyst consensus estimate of $0.12 by $0.05.
- **Revenue**: Revenue for the quarter came in at $121.72 million, below the consensus estimate of $129.55 million.
- **Stock Performance**: Despite the earnings miss, the stock surged by 10.29% in after-hours trading, closing at $3.79.
3. **Conclusion**: Vaalco Energy's Q4 2024 EPS did not exceed forecasts due to higher-than-expected production expenses and lower revenue than anticipated. The company's stock price rose despite the earnings miss, likely due to strong operational results and strategic initiatives.

In summary, Vaalco Energy's Q4 2024 EPS did not exceed forecasts due to higher production expenses and lower revenue than anticipated, despite strong operational performance and strategic initiatives.