Ensign Energy Services Second Quarter 2024 Earnings: Beats Expectations

Ensign Energy Services (TSE:ESI) Second Quarter 2024 Results

Key Financial Results

• Revenue: CA$391.8m (down 9.5% from 2Q 2023).
• Net loss: CA$4.54m (down by 144% from CA$10.3m profit in 2Q 2023).
• CA$0.025 loss per share (down from CA$0.056 profit in 2Q 2023).

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

Ensign Energy Services Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 50%.

Looking ahead, revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.3% decline forecast for the Energy Services industry in Canada.

Performance of the Canadian Energy Services industry.

The company's shares are down 4.5% from a week ago.

Risk Analysis

We should say that we've discovered 3 warning signs for Ensign Energy Services (1 shouldn't be ignored!) that you should be aware of before investing here.

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