Avance Gas Holding Second Quarter 2024 Earnings: EPS Beats Expectations

Avance Gas Holding (OB:AGAS) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$67.7m (down 20% from 2Q 2023).
• Net income: US$60.6m (up 70% from 2Q 2023).
• Profit margin: 90% (up from 42% in 2Q 2023).
• EPS: US$0.79 (up from US$0.47 in 2Q 2023).

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

Avance Gas Holding EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%.

Looking ahead, revenue is expected to fall by 45% p.a. on average during the next 3 years compared to a 5.2% decline forecast for the Oil and Gas industry in Norway.

Performance of the Norwegian Oil and Gas industry.

The company's shares are down 3.0% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 4 warning signs for Avance Gas Holding (2 are potentially serious!) that you should be aware of.

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