Solstad Offshore Full Year 2023 Earnings: Beats Expectations

Solstad Offshore (OB:SOFF) Full Year 2023 Results

Key Financial Results

• Revenue: kr6.92b (up 45% from FY 2022).
• Net income: kr364.8m (up from kr446.9m loss in FY 2022).
• Profit margin: 5.3% (up from net loss in FY 2022).
• EPS: kr4.66 (up from kr5.81 loss in FY 2022).

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

Solstad Offshore Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 34%.

Looking ahead, revenue is expected to decline by 2.1% p.a. on average during the next 2 years, while revenues in the Energy Services industry in Norway are expected to grow by 7.7%.

Performance of the Norwegian Energy Services industry.

The company's shares are up 2.7% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 4 warning signs for Solstad Offshore (1 is a bit concerning) you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.