Touchstone Exploration Full Year 2023 Earnings: EPS Misses Expectations

Touchstone Exploration (TSE:TXP) Full Year 2023 Results

Key Financial Results

• Revenue: US$36.0m (up 27% from FY 2022).
• Net loss: US$20.6m (loss widened by US$17.4m from FY 2022).
• US$0.088 loss per share (further deteriorated from US$0.015 loss in FY 2022).

TXP Production and Reserves

Oil reserves

• Proven reserves: 5.873 MMbbls.

Gas reserves

• Proven reserves: 123.15 Bcf.

LNG reserves

• Proven reserves: 1.283 MMbbls.

Combined production

• Oil equivalent production: 1.453 MMboe (0.577 MMboe in FY 2022).

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

Touchstone Exploration EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates.

In the last 12 months, the only revenue segment was Oil and Gas Exploration and Production contributing US$36.0m. Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$2.79m. Explore how TXP's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Oil and Gas industry in Canada.

Performance of the Canadian Oil and Gas industry.

The company's shares are down 7.9% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Touchstone Exploration's balance sheet.

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