ADNOC Drilling Company P.J.S.C Second Quarter 2024 Earnings: Beats Expectations

ADNOC Drilling Company P.J.S.C (ADX:ADNOCDRILL) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$935.4m (up 29% from 2Q 2023).
• Net income: US$295.0m (up 30% from 2Q 2023).
• Profit margin: 32% (in line with 2Q 2023).
• EPS: US$0.018 (up from US$0.014 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

ADNOC Drilling Company P.J.S.C Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 1.8%.

Looking ahead, revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Energy Services industry in Asia.

Performance of the market in United Arab Emirates.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for ADNOC Drilling Company P.J.S.C that you should be aware of before investing here.

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