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Mach Natural Resources Second Quarter 2024 Earnings: Misses Expectations
Mach Natural Resources (NYSE:MNR) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$240.0m (up 44% from 2Q 2023).
- Net income: US$39.5m (down 49% from 2Q 2023).
- Profit margin: 17% (down from 47% in 2Q 2023). The decrease in margin was driven by higher expenses.
- EPS: US$0.42.
All figures shown in the chart above are for the trailing 12 month (TTM) period
Mach Natural Resources Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 5.4%. Earnings per share (EPS) also missed analyst estimates by 32%.
Looking ahead, revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Oil and Gas industry in the US.
Performance of the American Oil and Gas industry.
The company's shares are up 5.3% from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 3 warning signs for Mach Natural Resources (1 shouldn't be ignored) you should be aware 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.
About NYSE:MNR
Mach Natural Resources
An independent upstream oil and gas company, focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquids reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas, and the panhandle of Texas.
Fair value with moderate growth potential.