PHX Energy Services (TSE:PHX) Second Quarter 2024 Results
Key Financial Results
- Revenue: CA$154.2m (flat on 2Q 2023).
- Net income: CA$12.9m (down 29% from 2Q 2023).
- Profit margin: 8.4% (down from 12% in 2Q 2023).
- EPS: CA$0.27 (down from CA$0.35 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
PHX Energy Services Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 6.1%.
Looking ahead, revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.2% decline forecast for the Energy Services industry in Canada.
Performance of the Canadian Energy Services industry.
The company's shares are down 9.1% from a week ago.
Risk Analysis
It is worth noting though that we have found 2 warning signs for PHX Energy Services (1 doesn't sit too well with us!) that you need to take into consideration.
New: Manage All Your Stock Portfolios in One Place
We've created the ultimate portfolio companion for stock investors, and it's free.
• Connect an unlimited number of Portfolios and see your total in one currency
• Be alerted to new Warning Signs or Risks via email or mobile
• Track the Fair Value of your stocks
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:PHX
PHX Energy Services
Provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally.
Very undervalued with flawless balance sheet and pays a dividend.