Harbour Energy First Half 2024 Earnings: Misses Expectations

Harbour Energy (LON:HBR) First Half 2024 Results

Key Financial Results

• Revenue: US$1.92b (down 5.0% from 1H 2023).
• Net income: US$57.0m (up from US$8.00m loss in 1H 2023).
• Profit margin: 3.0% (up from net loss in 1H 2023). The move to profitability was driven by lower expenses.
• EPS: US$0.074 (up from US$0.01 loss in 1H 2023).

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

Harbour Energy Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 77%.

Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the United Kingdom are expected to remain flat.

Performance of the British Oil and Gas industry.

The company's shares are down 3.1% from a week ago.

Risk Analysis

You should learn about the 1 warning sign we've spotted with Harbour Energy.

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