OKEA (OB:OKEA) First Quarter 2024 Results
Key Financial Results
- Revenue: kr3.47b (up 19% from 1Q 2023).
- Net loss: kr49.4m (down by 122% from kr226.1m profit in 1Q 2023).
- kr0.48 loss per share (down from kr2.18 profit in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
OKEA Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 38%. Earnings per share (EPS) missed analyst estimates.
Looking ahead, revenue is expected to fall by 11% p.a. on average during the next 3 years compared to a 4.6% decline forecast for the Oil and Gas industry in Norway.
Performance of the Norwegian Oil and Gas industry.
The company's shares are down 4.3% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on OKEA's balance sheet.
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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.
About OB:OKEA
OKEA
An oil and gas company, engages in the development and production of oil and gas in the Norwegian Continental Shelf.
Undervalued with reasonable growth potential.
