VAALCO Energy Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

VAALCO Energy (NYSE:EGY) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$140.3m (up 21% from 3Q 2023).
• Net income: US$11.0m (up 81% from 3Q 2023).
• Profit margin: 7.8% (up from 5.2% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.11 (up from US$0.057 in 3Q 2023).

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

VAALCO Energy Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) missed analyst estimates by 17%.

Looking ahead, revenue is expected to decline by 7.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.1%.

Performance of the American Oil and Gas industry.

The company's shares are down 6.4% from a week ago.

Risk Analysis

Be aware that VAALCO Energy is showing 1 warning sign in our investment analysis that you should know about...

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