Ithaca Energy Third Quarter 2023 Earnings: Beats Expectations

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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