Stock Analysis

Vår Energi First Quarter 2024 Earnings: Misses Expectations

Simply Wall St

April 24, 2024

Vår Energi (OB:VAR) First Quarter 2024 Results

Key Financial Results

Revenue: US$1.95b (down 6.7% from 1Q 2023).
Net income: US$92.0m (down 53% from 1Q 2023).
Profit margin: 4.7% (down from 9.3% in 1Q 2023). The decrease in margin was driven by lower revenue.
EPS: US$0.037 (down from US$0.078 in 1Q 2023).

earnings-and-revenue-growth — OB:VAR Earnings and Revenue Growth April 24th 2024

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

Vår Energi Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 36%.

Looking ahead, revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 5.1% decline forecast for the Oil and Gas industry in Norway.

Performance of the Norwegian Oil and Gas industry.

The company's shares are down 5.3% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Vår Energi (at least 1 which is concerning), and understanding them should be part of your investment process.

Valuation is complex, but we're helping make it simple.

Find out whether Vår Energi is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

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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.