ShaMaran Petroleum Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

ShaMaran Petroleum (CVE:SNM) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$29.4m (up 133% from 3Q 2023).
• Net income: US$75.1m (up from US$8.20m loss in 3Q 2023).
• EPS: US$0.03 (up from US$0.003 loss in 3Q 2023).

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

ShaMaran Petroleum EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 19%. Earnings per share (EPS) exceeded analyst estimates.

Looking ahead, revenue is forecast to grow 43% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to remain flat.

Performance of the Canadian Oil and Gas industry.

The company's shares are up 6.3% from a week ago.

Risk Analysis

Be aware that ShaMaran Petroleum is showing 2 warning signs in our investment analysis and 1 of those is significant...

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