BlueNord Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag

BlueNord (OB:BNOR) Full Year 2023 Results

Key Financial Results

• Revenue: US$795.0m (down 18% from FY 2022).
• Net income: US$109.8m (up from US$8.80m loss in FY 2022).
• Profit margin: 14% (up from net loss in FY 2022). The move to profitability was driven by lower expenses.
• EPS: US$4.22 (up from US$0.35 loss in FY 2022).

BNOR Production

Combined production

• Oil equivalent production: 9.1 MMboe (9.8 MMboe in FY 2022).

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

BlueNord EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 3.6%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.8% decline forecast for the Oil and Gas industry in Norway.

Performance of the Norwegian Oil and Gas industry.

The company's shares are up 2.7% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 1 warning sign for BlueNord you should be aware 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.