International Petroleum Full Year 2024 Earnings: Misses Expectations

International Petroleum (TSE:IPCO) Full Year 2024 Results

Key Financial Results

• Revenue: US$793.0m (down 6.6% from FY 2023).
• Net income: US$102.2m (down 41% from FY 2023).
• Profit margin: 13% (down from 20% in FY 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: US$0.82 (down from US$1.31 in FY 2023).

IPCO Production

Combined production

• Oil equivalent production: 17.34 MMboe (18.65 MMboe in FY 2023).

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

International Petroleum Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) also missed analyst estimates by 26%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Oil and Gas industry in Canada.

Performance of the Canadian Oil and Gas industry.

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

Risk Analysis

You should learn about the 2 warning signs we've spotted with International Petroleum (including 1 which is concerning).

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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.