Petroreconcavo (BVMF:RECV3) Third Quarter 2023 Results
Key Financial Results
- Revenue: R$747.8m (down 7.1% from 3Q 2022).
- Net income: R$145.1m (down 32% from 3Q 2022).
- Profit margin: 19% (down from 26% in 3Q 2022). The decrease in margin was primarily driven by lower revenue.
- EPS: R$0.49 (down from R$0.72 in 3Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Petroreconcavo Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 34%.
Looking ahead, revenue is forecast to grow 28% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Brazil are expected to remain flat.
Performance of the Brazilian Oil and Gas industry.
The company's shares are down 12% from a week ago.
Risk Analysis
Before you take the next step you should know about the 2 warning signs for Petroreconcavo (1 is a bit concerning!) that we have uncovered.
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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.
About BOVESPA:RECV3
Petroreconcavo
Engages in the exploration and production of oil and natural gas in Brazil.
Excellent balance sheet and fair value.
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