Vista Energy (VISTAA) Q2 2026 earnings summary

Executive summary

• Achieved record production and financial results in Q2 2026, driven by organic growth and the acquisition of Equinor assets in Vaca Muerta, consolidating interests in Bandurria Sur and Bajo del Toro.

• Total production reached 156,061 BOE per day, up 32% year-over-year, with oil production at 135,427 barrels per day, up 33%.

• Revenues for Q2 were $1.15 billion, up 89% year-over-year, and net income rose 37% to $322 million.

• Successfully integrated Bandurria Sur and Bajo del Toro assets, contributing significantly to production growth.

• On track to meet 2026 guidance across all key operating and financial metrics.

Financial highlights

• Adjusted EBITDA was $805 million, up 99% year-over-year, with a margin of 70%.

• Net income reached $322 million, up 37% year-over-year and 199% sequentially.

• Revenues were $1.15 billion, up 89% year-over-year and 66% sequentially.

• Earnings per share was $3 for the quarter.

• Free cash flow (excluding Equinor acquisition) was $491 million.

• Lifting cost was $4.5 per BOE, down 4% year-over-year.

Outlook and guidance

• Maintaining $3 billion Adjusted EBITDA guidance at $85/bbl oil price.

• For every $10/bbl change in oil price in H2, Adjusted EBITDA changes by ~$200 million.

• Targeting net leverage ratio of ~1x by year-end 2026.

• Forecasting Q3 production at 160,000 BOE/d and Q4 at 170,000 BOE/d; annual guidance at 158,000 BOE/d.

• Well-positioned to deliver on annual guidance of 100-110 well tie-ins.