Shelf Drilling (OB:SHLF) Third Quarter 2024 Results
Key Financial Results
- Revenue: US$267.9m (up 3.6% from 3Q 2023).
- Net income: US$67.5m (up 65% from 3Q 2023).
- Profit margin: 25% (up from 16% in 3Q 2023).
- EPS: US$0.32 (up from US$0.21 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Shelf Drilling Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 38%. Earnings per share (EPS) also surpassed analyst estimates.
Looking ahead, revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Energy Services industry in Norway.
Performance of the Norwegian Energy Services industry.
The company's shares are down 2.6% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 3 warning signs for Shelf Drilling you should be aware of, and 1 of them doesn't sit too well with us.
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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:SHLF
Shelf Drilling
Operates as a shallow water offshore drilling contractor in the Middle East, North Africa, the Mediterranean, Southeast Asia, India, West Africa, and North Sea.
Undervalued with high growth potential.
