Sea1 Offshore (OB:SEA1) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$107.6m (up 21% from 2Q 2023).
- Net income: US$131.9m (up 337% from 2Q 2023).
- EPS: US$0.55 (up from US$0.13 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Sea1 Offshore Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) also surpassed analyst estimates significantly.
Looking ahead, revenue is expected to decline by 9.9% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Norway are expected to grow by 11%.
Performance of the Norwegian Energy Services industry.
The company's shares are up 19% from a week ago.
Risk Analysis
It is worth noting though that we have found 2 warning signs for Sea1 Offshore (1 is a bit concerning!) that you need to take into consideration.
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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:SEA1
Sea1 Offshore
Owns and operates offshore support vessels for the offshore energy service industry and offshore renewables market.
Flawless balance sheet and undervalued.
