Okeanis Eco Tankers Second Quarter 2024 Earnings: Beats Expectations

Okeanis Eco Tankers (OB:OET) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$112.0m (down 6.5% from 2Q 2023).
• Net income: US$39.6m (down 25% from 2Q 2023).
• Profit margin: 35% (down from 44% in 2Q 2023). The decrease in margin was primarily driven by higher expenses.
• EPS: US$1.23 (down from US$1.64 in 2Q 2023).

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

Okeanis Eco Tankers Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 46%.

Looking ahead, revenue is expected to fall by 6.3% 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 share price is broadly unchanged from a week ago.

Risk Analysis

You should learn about the 2 warning signs we've spotted with Okeanis Eco Tankers.

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.