AKITA Drilling Full Year 2024 Earnings: EPS Beats Expectations, Revenues Lag

AKITA Drilling (TSE:AKT.A) Full Year 2024 Results

Key Financial Results

• Revenue: CA$193.3m (down 14% from FY 2023).
• Net income: CA$12.9m (down 30% from FY 2023).
• Profit margin: 6.7% (down from 8.2% in FY 2023). The decrease in margin was driven by lower revenue.
• EPS: CA$0.32 (down from CA$0.46 in FY 2023).

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

AKITA Drilling EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 14%. Earnings per share (EPS) exceeded analyst estimates by 118%.

Looking ahead, revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Energy Services industry in Canada.

Performance of the Canadian Energy Services industry.

The company's shares are up 4.7% from a week ago.

Risk Analysis

You should learn about the 2 warning signs we've spotted with AKITA Drilling.

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