88 Energy Past Earnings Performance

Past criteria checks 0/6

88 Energy's earnings have been declining at an average annual rate of -5.2%, while the Oil and Gas industry saw earnings growing at 29.3% annually. Revenues have been declining at an average rate of 7.9% per year.

Key information

-5.2%

Earnings growth rate

21.9%

EPS growth rate

Oil and Gas Industry Growth	37.3%
Revenue growth rate	-7.9%
Return on equity	-22.9%
Net Margin	n/a
Last Earnings Update	30 Jun 2024

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown

How 88 Energy makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

DB:POQ Revenue, expenses and earnings (AUD Millions)
Date	Revenue	Earnings	G+A Expenses
30 Jun 24	0	-33	34
31 Mar 24	0	-24	25
31 Dec 23	0	-14	16
30 Sep 23	0	-15	16
30 Jun 23	0	-15	16
31 Mar 23	0	-43	45
31 Dec 22	0	-71	74
30 Sep 22	0	-70	74
30 Jun 22	0	-70	74
31 Mar 22	2	-36	40
31 Dec 21	4	-2	6
30 Sep 21	4	-10	5
30 Jun 21	4	-18	5
31 Mar 21	2	-20	4
31 Dec 20	0	-22	3
30 Sep 20	-1	-17	4
30 Jun 20	-2	-11	4
31 Mar 20	-1	-24	3
31 Dec 19	0	-37	3
30 Sep 19	1	-34	3
30 Jun 19	2	-32	3
31 Mar 19	1	-19	3
31 Dec 18	0	-6	3
30 Sep 18	0	-6	3
30 Jun 18	0	-6	3
31 Mar 18	0	-7	4
31 Dec 17	0	-8	5
30 Sep 17	0	-8	5
30 Jun 17	0	-7	5
31 Mar 17	0	-8	5
31 Dec 16	0	-9	4
30 Sep 16	0	-10	4
30 Jun 16	0	-11	4
31 Mar 16	0	-9	5
31 Dec 15	0	-6	5
30 Sep 15	0	-16	6
30 Jun 15	0	-26	6
31 Mar 15	0	-27	7
31 Dec 14	0	-28	7
30 Sep 14	0	-19	7
30 Jun 14	1	-10	7
31 Mar 14	1	-8	6
31 Dec 13	1	-7	5

Quality Earnings: POQ is currently unprofitable.

Growing Profit Margin: POQ is currently unprofitable.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: POQ is unprofitable, and losses have increased over the past 5 years at a rate of 5.2% per year.

Accelerating Growth: Unable to compare POQ's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: POQ is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-28.6%).

Return on Equity

High ROE: POQ has a negative Return on Equity (-22.93%), as it is currently unprofitable.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/23 23:21
End of Day Share Price	2024/12/13 00:00
Earnings	2024/06/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

88 Energy Limited is covered by 6 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Andrew Murray Darley	Cavendish
Adam McCarter	Cavendish
James McCormack	Cavendish

88 Energy Past Earnings Performance

Past criteria checks 0/6

Key information

Recent past performance updates

Full year 2021 earnings: Revenues exceed analyst expectations

Recent updates

88 Energy Limited Provides an Update on Activities Related to Petroleum Exploration Licence 93 in the Owambo Basin, Onshore, Namibia

88 Energy Limited Reports Contingent Resource Update for Project Phoenix

New major risk - Financial position

88 Energy Limited Provides Project Phoenix Update

Less than half of directors are independent

88 Energy Limited Reports Maiden Internal Prospective Resource Estimate

Less than half of directors are independent

88 Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 9.875925 million.

88 Energy Limited Provides Further Information on Hickory-1 Flow Test Results

88 Energy Limited Announce Flow Test Results from its Hickory-1 Discovery Well, Located in Project Phoenix on the North Slope of Alaska

88 Energy Limited Provides Update on Ongoing Flow Testing Operations At the Hickory-1 Well Within Its Project Phoenix Acreage Located on the North Slope of Alaska

New minor risk - Financial data availability

88 Energy Limited, Annual General Meeting, May 02, 2024

88 Energy Limited Announces Hickory-1 Flow Test Operations Update

88 Energy Limited Announces Hickory-1 Flow Test Imminent - Final Preparations Underway

88 Energy Limited Reports the Hickory-1 Well Ice Pad Construction Has Commenced and That Pre-Flow Test Operations

88 Energy Limited Provides an Update in Relation to the Hickory-1 Flow Testing Program At Project Phoenix on the North Slope, Alaska

Less than half of directors are independent

88 Energy Limited, Annual General Meeting, Jan 15, 2024

88 Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 9.9 million.

Less than half of directors are independent

88 Energy Limited Provides Project Phoenix – BFF Contingent Resource Estimate

88 Energy Limited Announces Mapping of the Recently Identified Upper Slope Fan System Across its Project Pheonix Acreage

New major risk - Financial position

88 Energy Limited Announces Updates on Project Peregrine Prospective Resources

88 Energy Limited (ASX:88E) and Lonestar I, LLC acquired 75% interest in Bighorn Energy LLC for $1.5 million.

88 Energy Limited Provides an Update in Relation to the Hickory-1 Flow Testing Program At Project Phoenix on the North Slope, Alaska

Less than half of directors are independent

88 Energy Limited Receives Permit to Drill the Hickory-1 Exploration Well

Less than half of directors are independent

88 Energy Limited Executes A Rig Contract with Nordic-Calista LLC

Less than half of directors are independent

88 Energy Limited, Annual General Meeting, Nov 11, 2022

88 Energy Limited Announces Completion of Franklin Bluffs 3D Seismic - Icewine East

88 Energy Limited Provides Update on Project Icewine East Prospective Resource Estimate

88 Energy Limited Announces Maiden Independent Prospective Resource Estimate Completed At Project Icewine East

88 Energy Limited Reports It Signed A Licensing Agreement with Sae for the Use of Sae's Fb3d Seismic Data

88 Energy Limited to Report That Slope Fan Set and Basin Floor Fan Play Fairways on Its Project Icewine Acreage Is Now Complete

Less than half of directors are independent

88 Energy Limited, Annual General Meeting, May 16, 2022

88 Energy Limited Provides Update on Operations At Project Longhorn Conventional Oil and Gas Production Assets

88 Energy Limited Provides Update on Project Icewine Acreage

88 Energy Limited Announces Wireline Logging Results and Forward Program At Merlin-2

Full year 2021 earnings: Revenues exceed analyst expectations

88 Energy Limited Reports Arctic Fox Rig Commenced Drilling the Merlin-2 Appraisal Well

88 Energy Limited Announces Project Icewine Update

88 Energy Limited Announces Merlin-2 Pre-Spud Operations on Track

Forecast to breakeven in 2022

88 Energy Limited announced that it expects to receive AUD 32 million in funding

88 Energy Limited Approves Merlin-2 Permit to Drill

88 Energy Limited Provides Update on Merlin-2 Operations

88 Energy Limited Selects Merlin-2 Well Location

Non-Executive Chairman Michael Evans has left the company

88 Energy Limited (ASX:88E) completed the acquisition of remaining 50% stake in Project Peregrine in Alaska from Alaska Peregrine Development Company, LLC.

88 Energy Limited Announces Merlin-1 Testing Program Update

88 Energy Limited (ASX:88E) agreed to acquire a 50% stake in Project Peregrine in Alaska from Alaska Peregrine Development Company, LLC.

88 Energy Limited Provides Update on Its Operations on the North Slope of Alaska

88 Energy Limited Provides Update of Operations on the North Slope of Alaska

88 Energy Limited Provides Updates Related to Its Operations in the Npr-A Region of the North Slope of Alaska

Revenue beats expectations

88 Energy Limited Provides Update Related to Its Operations in the NPR-A Region of the North Slope of Alaska

88 Energy Limited Announces Project Peregrine Prospective Resources Report

88 Energy Limited Announces Operations Update

88 Energy Limited Announces Board Changes

88 Energy Limited Announces Managing Director Changes

88 Energy Limited Provides Update on Its Operations in the NPR-A Region of the North Slope of Alaska

88 Energy Limited Provides Update Related to its Operations on the North Slope of Alaska

88 Energy Limited Provides Update on Related to Its Projects on the North Slope of Alaska

88 Energy Limited Provides the Update Related to Its Projects on the North Slope of Alaska

88 Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 10.07 million.

88 Energy Limited Announces Update Related to its Project Icewine on the North Slope of Alaska

88 Energy Limited Provides the Update Related to the Farm-Out At Its Project Peregrine

88 Energy Limited (ASX:88E) acquired additional 45% stake in Charlie-1 well in Alaska.

88 Energy Limited Announces Seismic Attribute Analysis Increases Confidence at Peregrine