Icon Energy Third Quarter 2024 Earnings: US$0.69 loss per share (vs US$0.32 profit in 3Q 2023)

Icon Energy (NASDAQ:ICON) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$863.0k (down 8.1% from 3Q 2023).
• Net loss: US$876.0k (down from US$64.0k profit in 3Q 2023).
• US$0.69 loss per share (down from US$0.32 profit in 3Q 2023).

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

Icon Energy Earnings Insights

Looking ahead, revenue is forecast to grow 92% p.a. on average during the next 2 years, while revenues in the Shipping industry in the US are expected to remain flat.

Performance of the American Shipping industry.

The company's shares are down 74% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 7 warning signs for Icon Energy (of which 4 are a bit concerning!) you should know about.

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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.