HydrogenPro ASA (OB:HYPRO) Second-Quarter Results: Here's What Analysts Are Forecasting For This Year

HydrogenPro ASA (OB:HYPRO) came out with its quarterly results last week, and we wanted to see how the business is performing and what industry forecasters think of the company following this report. Revenues of kr50m beat expectations by a respectable 4.9%, although statutory losses per share increased. HydrogenPro lost kr1.15, which was 125% more than what the analysts had included in their models. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.

Check out our latest analysis for HydrogenPro

After the latest results, the two analysts covering HydrogenPro are now predicting revenues of kr494.9m in 2024. If met, this would reflect a sizeable 23% improvement in revenue compared to the last 12 months. Losses are expected to be contained, narrowing 14% from last year to kr2.26. Before this earnings announcement, the analysts had been modelling revenues of kr336.0m and losses of kr1.97 per share in 2024. Ergo, there's been a clear change in sentiment, with the analysts lifting this year's revenue estimates, while at the same time increasing their loss per share numbers to reflect the cost of achieving this growth.

There was no major change to the consensus price target of kr32.84, with growing revenues seemingly enough to offset the concern of growing losses.

Of course, another way to look at these forecasts is to place them into context against the industry itself. We would highlight that HydrogenPro's revenue growth is expected to slow, with the forecast 52% annualised growth rate until the end of 2024 being well below the historical 100% p.a. growth over the last three years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 12% per year. So it's pretty clear that, while HydrogenPro's revenue growth is expected to slow, it's still expected to grow faster than the industry itself.

The Bottom Line

The most important thing to take away is that the analysts increased their loss per share estimates for next year. Pleasantly, they also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have analyst estimates for HydrogenPro going out as far as 2026, and you can see them free on our platform here.

And what about risks? Every company has them, and we've spotted 4 warning signs for HydrogenPro (of which 1 can't be ignored!) you should know about.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.