Aker BP First Quarter 2024 Earnings: Beats Expectations

Aker BP (OB:AKRBP) First Quarter 2024 Results

Key Financial Results

• Revenue: US$3.08b (down 7.1% from 1Q 2023).
• Net income: US$531.3m (up 184% from 1Q 2023).
• Profit margin: 17% (up from 5.6% in 1Q 2023). The increase in margin was driven by lower expenses.
• EPS: US$0.84 (up from US$0.30 in 1Q 2023).

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

Aker BP Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 19%.

Looking ahead, revenue is expected to fall by 6.3% p.a. on average during the next 3 years compared to a 5.1% decline forecast for the Oil and Gas industry in Norway.

Performance of the Norwegian Oil and Gas industry.

The company's shares are down 3.1% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for Aker BP you should be aware of, and 1 of them is a bit concerning.

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