Solstad Offshore Full Year 2023 Earnings: Beats Expectations

Solstad Offshore (OB:SOFF) Full Year 2023 Results

Key Financial Results

• Revenue: kr6.73b (up 47% from FY 2022).
• Net income: kr285.2m (up from kr446.9m loss in FY 2022).
• Profit margin: 4.2% (up from net loss in FY 2022).
• EPS: kr3.64 (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%.

The primary driver behind last 12 months revenue was the Subsea segment contributing a total revenue of kr3.16b (47% of total revenue). Explore how SOFF's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to stay flat during the next 2 years compared to a 5.1% growth forecast for the Energy Services industry in Norway.

Performance of the Norwegian Energy Services industry.

The company's shares are up 10% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 3 warning signs for Solstad Offshore (of which 1 makes us a bit uncomfortable!) you should know about.

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