Canacol Energy Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Canacol Energy (TSE:CNE) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$94.5m (up 20% from 3Q 2023).
• Net income: US$10.3m (up from US$524.0k loss in 3Q 2023).
• Profit margin: 11% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue.
• EPS: US$0.30 (up from US$0.015 loss in 3Q 2023).

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

Canacol Energy Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 62%.

Looking ahead, revenue is forecast to decline by 12% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to remain flat.

Performance of the Canadian Oil and Gas industry.

The company's shares are up 9.6% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with Canacol Energy (at least 1 which is concerning), and understanding them should be part of your investment process.

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