Archer Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Archer (OB:ARCH) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$283.5m (up 14% from 3Q 2023).
• Net income: US$2.50m (up from US$2.50m loss in 3Q 2023).
• Profit margin: 0.9% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue.
• EPS: US$0.038 (up from US$0.038 loss in 3Q 2023).

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

Archer Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 8.4%. Earnings per share (EPS) missed analyst estimates by 59%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Energy Services industry in Norway.

Performance of the Norwegian Energy Services industry.

The company's shares are up 13% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Archer that you need to be mindful 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.