Seacrest Petroleo Bermuda First Quarter 2024 Earnings: Revenues Miss Expectations

Seacrest Petroleo Bermuda (OB:SEAPT) First Quarter 2024 Results

Key Financial Results

• Revenue: US$46.0m (up 421% from 1Q 2023).
• Net loss: US$18.8m (loss widened by 135% from 1Q 2023).

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

Seacrest Petroleo Bermuda Revenues Disappoint

Revenue missed analyst estimates by 7.4%.

Looking ahead, revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 5.9% decline forecast for the Oil and Gas industry in Norway.

Performance of the Norwegian Oil and Gas industry.

The company's shares are down 8.6% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 3 warning signs for Seacrest Petroleo Bermuda you should be aware of, and 1 of them doesn't sit too well with us.

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