Rubellite Energy Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Rubellite Energy (TSE:RBY) Third Quarter 2024 Results

Key Financial Results

• Revenue: CA$50.0m (up 114% from 3Q 2023).
• Net income: CA$15.0m (up 281% from 3Q 2023).
• Profit margin: 30% (up from 17% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: CA$0.23 (up from CA$0.064 in 3Q 2023).

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

Rubellite Energy EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 38%. Earnings per share (EPS) exceeded analyst estimates by 53%.

Looking ahead, revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 1.7% 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.

Risk Analysis

Be aware that Rubellite Energy is showing 3 warning signs in our investment analysis and 1 of those doesn't sit too well with us...

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