Avance Gas Holding Full Year 2023 Earnings: In Line With Expectations

Avance Gas Holding (OB:AGAS) Full Year 2023 Results

Key Financial Results

• Revenue: US$352.3m (up 38% from FY 2022).
• Net income: US$163.6m (up 84% from FY 2022).
• Profit margin: 46% (up from 35% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: US$2.14 (up from US$1.16 in FY 2022).

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

Avance Gas Holding Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

Looking ahead, revenue is expected to fall by 16% p.a. on average during the next 3 years compared to a 4.4% decline forecast for the Oil and Gas industry in Norway.

Performance of the Norwegian Oil and Gas industry.

The company's shares are up 5.8% from a week ago.

Risk Analysis

Before you take the next step you should know about the 5 warning signs for Avance Gas Holding (3 are potentially serious!) that we have uncovered.

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