Vista Energy Q2 2026: Revenue Nearly Doubles to $1.15B, Adjusted EBITDA Hits $805M on Surging Oil Output
VIST has more than doubled off its 52-week low of $31.63.
Summary
Vista Energy's Q2 2026 results featured revenue nearly doubling to $1.15B, adjusted EBITDA of $805M, and net income of $322M, fueled by a 33% jump in oil production and higher realized prices following the Equinor asset acquisition.
Key Events · Earnings and Guidance · VIST
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Revenue Nearly Doubles to $1.15B
Total revenues, net of commodity hedges and freight, reached $1,154.4 million—an 89% increase year-over-year—driven by a 33% rise in oil production and a 44% increase in average realized oil prices to $89.40 per barrel.
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Adjusted EBITDA Soars 99% to $805M
Adjusted EBITDA hit $805.2 million, nearly double the prior-year quarter, with margins expanding to 70% as operating costs remained flat on a per-unit basis despite higher production.
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Net Income of $322M, EPS $3.00
Net income reached $321.7 million, or $3.00 per share, compared to $235.3 million ($2.26 per share) a year ago; excluding a one-time gain in Q2 2025, net income expanded more than ninefold.
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Free Cash Flow of $491M Excluding Acquisition Payments
Free cash flow was $99.1 million as reported, but excluding $391.9 million in Equinor Transaction payments, free cash flow was $491.0 million, reflecting strong operating cash generation.
Analysis · VIST · Energy & Transportation
A standout second quarter saw revenue nearly double year-over-year to $1.15 billion and adjusted EBITDA soar 99% to $805 million, underscoring the transformative impact of the Equinor Vaca Muerta acquisition. The deal, which closed in May, immediately lifted production by 12% and helped drive a 70% EBITDA margin. Oil output surged 33% to 135,427 barrels per day, while realized prices climbed 44% to $89.40 per barrel, buoyed by higher Brent and tighter differentials. Net income of $322 million, or $3.00 per share, handily beat expectations—even after stripping out a one-time gain from the prior year. Excluding acquisition payments, free cash flow reached a robust $491 million, and pro forma leverage dropped sharply to 1.25x. These results confirm the Equinor deal's value and set the stage for sustained free cash flow as new wells ramp up.
At the time of this filing, VIST was trading at $63.98 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $31.63 to $81.44. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.