Okeanis Eco Tankers Full Year 2024 Earnings: EPS Misses Expectations

Okeanis Eco Tankers (OB:OET) Full Year 2024 Results

Key Financial Results

• Revenue: US$393.2m (down 4.8% from FY 2023).
• Net income: US$108.9m (down 25% from FY 2023).
• Profit margin: 28% (down from 35% in FY 2023). The decrease in margin was primarily driven by higher expenses.
• EPS: US$3.38 (down from US$4.51 in FY 2023).

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

Okeanis Eco Tankers EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.2%.

In the last 12 months, the only revenue segment was Tanker Vessels contributing US$393.2m. The most substantial expense, totaling US$54.1m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how OET's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to fall by 14% p.a. on average during the next 3 years compared to a 3.0% decline forecast for the Oil and Gas industry in Norway.

Performance of the Norwegian Oil and Gas industry.

The company's shares are down 8.1% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with Okeanis Eco Tankers (at least 1 which is a bit concerning), and understanding them should be part of your investment process.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.