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MEG Energy Full Year 2024 Earnings: Misses Expectations
MEG Energy (TSE:MEG) Full Year 2024 Results
Key Financial Results
- Revenue: CA$5.15b (down 8.9% from FY 2023).
- Net income: CA$507.0m (down 11% from FY 2023).
- Profit margin: 9.8% (in line with FY 2023).
- EPS: CA$1.89 (down from CA$2.00 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
MEG Energy Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 9.1%.
Looking ahead, revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 2.7% 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.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on MEG Energy's balance sheet.
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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.
About TSX:MEG
MEG Energy
An energy company, focuses on in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada.
Excellent balance sheet and good value.
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