SBM Offshore (AMS:SBMO) First Half 2024 Results
Key Financial Results
- Revenue: US$2.22b (down 9.4% from 1H 2023).
- Net income: US$116.0m (down 35% from 1H 2023).
- Profit margin: 5.2% (down from 7.3% in 1H 2023). The decrease in margin was driven by lower revenue.
- EPS: US$0.65 (down from US$1.00 in 1H 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
SBM Offshore Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates by 16%.
Looking ahead, revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Energy Services industry in Europe.
Performance of the market in the Netherlands.
The company's shares are up 18% from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 4 warning signs for SBM Offshore (2 are concerning) 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.
About ENXTAM:SBMO
SBM Offshore
Provides floating production solutions to the offshore energy industry worldwide.
Very undervalued with solid track record.
