Tenaz Energy First Quarter 2024 Earnings: Misses Expectations

Tenaz Energy (TSE:TNZ) First Quarter 2024 Results

Key Financial Results

• Revenue: CA$16.4m (down 1.5% from 1Q 2023).
• Net loss: CA$557.0k (down by 119% from CA$2.88m profit in 1Q 2023).
• CA$0.02 loss per share (down from CA$0.10 profit in 1Q 2023).

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

Tenaz Energy Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 20%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 5.7% 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

You should always think about risks. Case in point, we've spotted 2 warning signs for Tenaz Energy you should be aware of, and 1 of them doesn't sit too well with us.

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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.