Viper Energy (VNOM) Tops Q3 EPS by 11c

Viper Energy (NASDAQ: VNOM) reported Q3 EPS of $0.58, $0.11 better than the analyst estimate of $0.47. Revenue for the quarter came in at $78.06 million versus the consensus estimate of $78.48 million.

“During the third quarter, Viper surpassed $1 billion of closed acquisitions since its IPO four years ago, with over $500 million of these deals having been completed through the first three quarters of 2018. Viper continues to use its size, scale and expertise in the Permian Basin to consolidate the fragmented private minerals market, and we believe there remain significant opportunities ahead for us to continue this consolidation,” stated Travis Stice, Chief Executive Officer of Viper’s general partner.

Mr. Stice continued, “As a direct result of Viper's accretive acquisitions, as well as continued organic growth on our legacy assets, Viper once again achieved significant quarter over quarter production growth. We have raised our full year production guidance so that the midpoint now represents 54% year over year growth. Looking ahead to 2019, we are excited about our organic growth profile as well as the continued execution of our acquisition strategy, including further drop downs from Diamondback.”

For earnings history and earnings-related data on Viper Energy (VNOM) click here.

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