Total Energy Services Second Quarter 2024 Earnings: Beats Expectations

Total Energy Services (TSE:TOT) Second Quarter 2024 Results

Key Financial Results

• Revenue: CA$213.3m (up 2.1% from 2Q 2023).
• Net income: CA$15.5m (up 150% from 2Q 2023).
• Profit margin: 7.3% (up from 3.0% in 2Q 2023). The increase in margin was primarily driven by lower expenses.
• EPS: CA$0.39 (up from CA$0.15 in 2Q 2023).

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

Total Energy Services Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 8.8%. Earnings per share (EPS) also surpassed analyst estimates by 56%.

Looking ahead, revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 5.3% decline forecast for the Energy Services industry in Canada.

Performance of the Canadian Energy Services industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Be aware that Total Energy Services is showing 1 warning sign in our investment analysis that you should know about...

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