Parex Resources Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

Parex Resources (TSE:PXT) Full Year 2024 Results

Key Financial Results

• Revenue: US$1.09b (down 7.2% from FY 2023).
• Net income: US$60.7m (down 87% from FY 2023).
• Profit margin: 5.6% (down from 39% in FY 2023).
• EPS: US$0.60 (down from US$4.32 in FY 2023).

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

Parex Resources Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) missed analyst estimates by 65%.

Looking ahead, revenue is expected to decline by 7.2% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to grow by 3.0%.

Performance of the Canadian Oil and Gas industry.

The company's shares are down 15% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 3 warning signs for Parex Resources (of which 1 is significant!) you should know about.

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