DNO Third Quarter 2024 Earnings: Misses Expectations

DNO (OB:DNO) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$170.5m (up 21% from 3Q 2023).
• Net income: US$20.0m (up from US$54.5m loss in 3Q 2023).
• Profit margin: 12% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses.
• EPS: US$0.021 (up from US$0.056 loss in 3Q 2023).

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

DNO Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 21%.

Looking ahead, revenue is forecast to grow 3.3% 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 down 8.3% from a week ago.

Risk Analysis

You should learn about the 1 warning sign we've spotted with DNO.

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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.