PHX Energy Services Second Quarter 2024 Earnings: Beats Expectations

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.

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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.