Filing Flows › Vaalco Energy (EGY) › Q1 2025
Vaalco Energy (EGY) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Vaalco Energy (EGY) reported revenue of $110M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -9% from the quarter before. Operating margin was 23.7%, net earnings $7.7M (7.0% of revenue).
Vaalco Energy, Q1 2025: revenue $110M (+10% year over year), operating margin 23.7%, net earnings $7.7M, operating cash flow $32.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $110M | -9% | +10% |
| Operating profit | $26.2M | -32% | -19% |
| Net earnings | $7.7M | -34% | +0.6% |
| Operating cash flow | $32.7M | -27% | +50% |
What changed
Revenue was $110.3M in Q1 2025, up 10% year over year and down 9% from the previous quarter. Gabon was the largest line at 47% of revenue. Canada added $491K year over year (up 9%), 5% of the total change. Gabon declined 9%.
Operating profit was $26.2M, a 23.7% margin (down 8.4 points year over year). Operating profit fell $6.0M even though revenue rose $10.2M versus a year earlier, so costs grew faster than sales. Total costs grew 24% against revenue growth of 10%. The fastest-growing cost line was Other operating costs (+25%). Net earnings were $7.7M, up 1% year over year. The effective tax rate was 67.5%.
Operating cash flow was $32.7M (up 50% year over year), 423% of net earnings. Non-cash charges added back $30.3M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $6.8M. Capital expenditures of $58.5M exceeded it, leaving free cash flow of −$25.8M.
Questions
What was Vaalco Energy's revenue in the first quarter 2025?
Vaalco Energy (EGY) reported revenue of $110M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -9% from the quarter before.
Was Vaalco Energy profitable in the first quarter 2025?
Operating profit was $26.2M (23.7% of revenue) and net earnings $7.7M.
Source: Vaalco Energy 10-Q on SEC EDGAR.