Panoro Energy First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Panoro Energy (OB:PEN) First Quarter 2024 Results

Key Financial Results

• Revenue: US$68.9m (up 14% from 1Q 2023).
• Net income: US$12.1m (down 16% from 1Q 2023).
• Profit margin: 18% (down from 24% in 1Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.10 (down from US$0.13 in 1Q 2023).

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

Panoro Energy Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 9.5%. Earnings per share (EPS) missed analyst estimates by 39%.

Looking ahead, revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.0% decline forecast for the Oil and Gas industry in Norway.

Performance of the Norwegian Oil and Gas industry.

The company's shares are up 6.9% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for Panoro Energy you should know about.

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