Dolphin Drilling First Quarter 2024 Earnings: Misses Expectations

Dolphin Drilling (OB:DDRIL) First Quarter 2024 Results

Key Financial Results

• Revenue: US$10.1m (up by US$9.70m from 1Q 2023).
• Net loss: US$16.8m (loss narrowed by 7.7% from 1Q 2023).
• US$0.076 loss per share (improved from US$0.15 loss in 1Q 2023).

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

Dolphin Drilling Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 68%. Earnings per share (EPS) also missed analyst estimates.

Looking ahead, revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Energy Services industry in Norway.

Performance of the Norwegian Energy Services industry.

The company's shares are up 1.3% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Dolphin Drilling (at least 1 which shouldn't be ignored), and understanding these should be part of your investment process.

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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.