Canacol Energy Second Quarter 2024 Earnings: US$0.62 loss per share (vs US$1.17 profit in 2Q 2023)

Canacol Energy (TSE:CNE) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$94.6m (up 22% from 2Q 2023).
• Net loss: US$21.3m (down by 153% from US$40.0m profit in 2Q 2023).
• US$0.62 loss per share (down from US$1.17 profit in 2Q 2023).

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

Canacol Energy Earnings Insights

Looking ahead, revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to grow by 2.7%.

Performance of the Canadian Oil and Gas industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Be aware that Canacol Energy is showing 3 warning signs in our investment analysis and 1 of those doesn't sit too well with us...

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.