Geo Energy Resources Full Year 2024 Earnings: Misses Expectations

Geo Energy Resources (SGX:RE4) Full Year 2024 Results

Key Financial Results

• Revenue: US$401.9m (down 18% from FY 2023).
• Net income: US$37.1m (down 40% from FY 2023).
• Profit margin: 9.2% (down from 13% in FY 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.027 (down from US$0.044 in FY 2023).

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

Geo Energy Resources Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 30%.

The primary driver behind last 12 months revenue was the China segment contributing a total revenue of US$248.5m (62% of total revenue). Notably, cost of sales worth US$349.3m amounted to 87% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$22.2m (100% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$6.70m. Explore how RE4's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 42% p.a. on average during the next 2 years, compared to a 1.7% decline forecast for the Oil and Gas industry in Asia.

Performance of the market in Singapore.

The company's shares are down 1.9% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Geo Energy Resources that you need to be mindful of.

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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.