Paramount Resources First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Paramount Resources (TSE:POU) First Quarter 2024 Results

Key Financial Results

• Revenue: CA$433.8m (down 19% from 1Q 2023).
• Net income: CA$68.1m (down 65% from 1Q 2023).
• Profit margin: 16% (down from 37% in 1Q 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: CA$0.47 (down from CA$1.39 in 1Q 2023).

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

Paramount Resources Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 9.0%. Earnings per share (EPS) missed analyst estimates by 8.0%.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Oil and Gas industry in Canada.

Performance of the Canadian Oil and Gas industry.

The company's shares are up 1.3% from a week ago.

Risk Analysis

You should learn about the 3 warning signs we've spotted with Paramount Resources.

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