Santos First Half 2024 Earnings: EPS Beats Expectations, Revenues Lag

Santos (ASX:STO) First Half 2024 Results

Key Financial Results

• Revenue: US$2.71b (down 8.6% from 1H 2023).
• Net income: US$636.0m (down 20% from 1H 2023).
• Profit margin: 24% (down from 27% in 1H 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.20 (down from US$0.24 in 1H 2023).

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

Santos EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 2.6%.

Looking ahead, revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Oil and Gas industry in Australia.

Performance of the Australian Oil and Gas industry.

The company's shares are down 3.0% from a week ago.

Risk Analysis

We should say that we've discovered 1 warning sign for Santos that you should be aware of before investing here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.