Stock Analysis

CNOOC Third Quarter 2024 Earnings: EPS: CN¥0.77 (vs CN¥0.71 in 3Q 2023)

Published
SEHK:883

CNOOC (HKG:883) Third Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥99.3b (down 14% from 3Q 2023).
  • Net income: CN¥36.9b (up 9.0% from 3Q 2023).
  • Profit margin: 37% (up from 30% in 3Q 2023). The increase in margin was driven by lower expenses.
  • EPS: CN¥0.77 (up from CN¥0.71 in 3Q 2023).
SEHK:883 Earnings and Revenue Growth October 29th 2024

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

CNOOC Earnings Insights

Looking ahead, revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Oil and Gas industry in Hong Kong.

Performance of the Hong Kong Oil and Gas industry.

The company's shares are down 1.8% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for CNOOC (1 is concerning!) that you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.