AKITA Drilling (TSE:AKT.A) Third Quarter 2024 Results
Key Financial Results
- Revenue: CA$45.8m (down 16% from 3Q 2023).
- Net income: CA$1.11m (down 72% from 3Q 2023).
- Profit margin: 2.4% (down from 7.1% in 3Q 2023).
- EPS: CA$0.03 (down from CA$0.098 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
AKITA Drilling Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 18%. Earnings per share (EPS) also missed analyst estimates by 40%.
Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Energy Services industry in Canada.
Performance of the Canadian Energy Services industry.
The company's shares are up 2.5% from a week ago.
Risk Analysis
We should say that we've discovered 3 warning signs for AKITA Drilling 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.
About TSX:AKT.A
AKITA Drilling
Operates as an oil and gas drilling contractor in Canada and the United States.
Mediocre balance sheet low.
