Stock Analysis
Ithaca Energy (LON:ITH) Third Quarter 2023 Results
Key Financial Results
- Revenue: US$571.5m (down 14% from 3Q 2022).
- Net income: US$78.9m (up from US$165.4m loss in 3Q 2022).
- Profit margin: 14% (up from net loss in 3Q 2022).
- EPS: US$0.078 (up from US$0.17 loss in 3Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Ithaca Energy Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 7.3%. Earnings per share (EPS) also surpassed analyst estimates.
Looking ahead, revenue is expected to fall by 2.7% p.a. on average during the next 3 years compared to a 1.7% decline forecast for the Oil and Gas industry in the United Kingdom.
Performance of the British Oil and Gas industry.
The company's shares are up 2.8% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 1 warning sign for Ithaca Energy that you should be aware of.
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About LSE:ITH
Ithaca Energy
Engages in the exploration, development, and production of oil and gas in the North Sea.
Fair value with moderate growth potential.