Calfrac Well Services Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags

Calfrac Well Services (TSE:CFW) Full Year 2023 Results

Key Financial Results

• Revenue: CA$1.86b (up 24% from FY 2022).
• Net income: CA$197.6m (up 460% from FY 2022).
• Profit margin: 11% (up from 2.4% in FY 2022).
• EPS: CA$2.44 (up from CA$0.83 in FY 2022).

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

Calfrac Well Services Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 2.7%.

Looking ahead, revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 10% decline forecast for the Energy Services industry in Canada.

Performance of the Canadian Energy Services industry.

The company's shares are down 15% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 3 warning signs for Calfrac Well Services (1 makes us a bit uncomfortable) you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.