Duyuru • Oct 12
Web Holding Limited made an offer to acquire BW Epic Kosan Ltd. (OB:BWEK) Web Holding Limited made an offer to acquire BW Epic Kosan Ltd. (OB:BWEK) on October 9, 2023. Reported Earnings • Aug 20
Second quarter 2023 earnings released: EPS: US$0.07 (vs US$0.02 in 2Q 2022) Second quarter 2023 results: EPS: US$0.07 (up from US$0.02 in 2Q 2022). Revenue: US$87.0m (flat on 2Q 2022). Net income: US$11.4m (up 279% from 2Q 2022). Profit margin: 13% (up from 3.5% in 2Q 2022). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 11% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 19
BW Epic Kosan Ltd. Declares an Interim Cash Dividend, Payable on 5 September 2023 BW Epic Kosan Ltd. declared an interim cash dividend of USD 0.073327 per ordinary share. The dividend will be payable on 5 September 2023 with Ex-date of 28 August 2023 and Record date of 29 August 2023. Major Estimate Revision • Aug 10
Consensus EPS estimates increase by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from US$349.0m to US$359.0m. EPS estimate increased from US$0.22 to US$0.27 per share. Net income forecast to grow 72% next year vs 42% growth forecast for Oil and Gas industry in Norway. Consensus price target up from kr23.70 to kr24.77. Share price was steady at kr22.00 over the past week. Major Estimate Revision • Jun 01
Consensus EPS estimates increase by 120% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from US$0.10 to US$0.22. Revenue forecast unchanged at US$349.0m. Net income forecast to grow 49% next year vs 35% growth forecast for Oil and Gas industry in Norway. Consensus price target of kr25.94 unchanged from last update. Share price fell 7.0% to kr21.20 over the past week. Reported Earnings • May 26
First quarter 2023 earnings: Revenues miss analyst expectations First quarter 2023 results: Revenue: US$86.0m (down 5.1% from 1Q 2022). Net income: US$12.0m (up 32% from 1Q 2022). Profit margin: 14% (up from 10.0% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 5.8%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 10% decline forecast for the Oil and Gas industry in Norway. Major Estimate Revision • May 21
Consensus EPS estimates increase by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from US$361.0m to US$365.0m. EPS estimate increased from US$0.10 to US$0.12 per share. Net income forecast to shrink 11% next year vs 35% growth forecast for Oil and Gas industry in Norway . Consensus price target up from kr21.99 to kr24.89. Share price rose 3.7% to kr22.40 over the past week. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to kr22.00, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 5x in the Oil and Gas industry in Norway. Total returns to shareholders of 82% over the past three years. Reported Earnings • Feb 23
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: US$0.13 (up from US$0.003 in FY 2021). Revenue: US$360.8m (up 9.5% from FY 2021). Net income: US$21.4m (up US$21.0m from FY 2021). Profit margin: 5.9% (up from 0.1% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 28%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 9.9% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 17
Consensus EPS estimates increase by 29% The consensus outlook for earnings per share (EPS) in fiscal year 2022 has improved. 2022 revenue forecast increased from US$356.0m to US$367.0m. EPS estimate increased from US$0.14 to US$0.18 per share. Net income forecast to grow 417% next year vs 83% growth forecast for Oil and Gas industry in Norway. Consensus price target up from kr22.11 to kr23.10. Share price fell 3.8% to kr20.20 over the past week. Reported Earnings • Nov 30
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: US$94.7m (up 2.6% from 3Q 2021). Net income: US$9.00m (up 131% from 3Q 2021). Profit margin: 9.5% (up from 4.2% in 3Q 2021). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 10% decline forecast for the Oil and Gas industry in Norway. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Director Rita Katrine Lokken Granlund was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Sep 28
BW Epic Kosan Ltd. to Report Q3, 2022 Results on Nov 29, 2022 BW Epic Kosan Ltd. announced that they will report Q3, 2022 results on Nov 29, 2022 Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: US$0.019 (vs US$0.02 in 2Q 2021) Second quarter 2022 results: EPS: US$0.019 (down from US$0.02 in 2Q 2021). Revenue: US$86.4m (up 6.0% from 2Q 2021). Net income: US$3.00m (down 9.1% from 2Q 2021). Profit margin: 3.5% (down from 4.0% in 2Q 2021). Over the next year, revenue is forecast to grow 10%, compared to a 31% growth forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 18
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$389.0m to US$378.0m. EPS estimate also fell from US$0.23 per share to US$0.19 per share. Net income forecast to grow 1,263% next year vs 95% growth forecast for Oil and Gas industry in Norway. Consensus price target up from kr25.43 to kr26.12. Share price rose 3.8% to kr22.00 over the past week. Duyuru • Aug 16
BW Epic Kosan Ltd. to Report Q2, 2022 Results on Aug 23, 2022 BW Epic Kosan Ltd. announced that they will report Q2, 2022 results at 12:00 PM, Central European Standard Time on Aug 23, 2022 Duyuru • Jun 04
BW Epic Kosan Ltd. Announces Board Appointments BW Epic Kosan Ltd. announced that the Audit Committee is also re-constituted with effect from June 3, 2022 as Ms Rita Katrine Løkken Granlund as Chair; Mr. Panaghis Nicholas Fotis Lykiardopulo as Member and Mr. Kristian Verner Mørch as Member. Major Estimate Revision • May 30
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from US$397.0m to US$389.0m. EPS estimate rose from US$0.16 to US$0.23. Net income forecast to grow 1,403% next year vs 95% growth forecast for Oil and Gas industry in Norway. Consensus price target broadly unchanged at kr24.82. Share price rose 2.9% to kr21.60 over the past week. Duyuru • May 26
BW Epic Kosan Ltd. Declares Interim Cash Dividend, Payable on 13 June 2022 The Board of BW Epic Kosan Ltd. has declared a interim cash dividend of $0.028219 per share. Ex-date is 1 June 2022. The dividend will be payable on 13 June 2022 to shareholders on record as of 2 June 2022. Reported Earnings • May 25
First quarter 2022 earnings: Revenues in line with analyst expectations First quarter 2022 results: Revenue: US$72.3m (up 21% from 1Q 2021). Net income: US$9.10m (up 30% from 1Q 2021). Profit margin: 13% (in line with 1Q 2021). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 14%, compared to a 23% growth forecast for the industry in Norway. Duyuru • May 14
BW Epic Kosan Ltd., Annual General Meeting, Jun 03, 2022 BW Epic Kosan Ltd., Annual General Meeting, Jun 03, 2022, at 11:00 Central European Standard Time. Agenda: To receive and adopt the Directors' Statement and Audited Financial Statements for the year 31 December 2021 and the Independent Auditors' Report thereon; to consider and re-elect directors; to consider and approve the Directors' fees for the period from the 2022 Annual General Meeting to the 2023 Annual General Meeting; to consider re-appointment of KPMG LLP as Auditors of the Company and to authorize the Directors to fix their remuneration; and to consider other business issues. Duyuru • May 13
BW Epic Kosan Ltd. to Report Q1, 2022 Results on May 24, 2022 BW Epic Kosan Ltd. announced that they will report Q1, 2022 results on May 24, 2022 Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Director Rita Granlund was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 11
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: US$0.003 (down from US$0.056 in FY 2020). Revenue: US$329.9m (up 79% from FY 2020). Net income: US$444.3k (down 93% from FY 2020). Profit margin: 0.1% (down from 3.2% in FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 22%, compared to a 47% growth forecast for the oil industry in Norway. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Mar 01
Consensus EPS estimates fall by 26% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$408.0m to US$402.0m. EPS estimate also fell from US$0.23 per share to US$0.17 per share. Net income forecast to grow 6,650% next year vs 46% growth forecast for Oil and Gas industry in Norway. Consensus price target down from kr25.59 to kr25.02. Share price fell 12% to kr19.70 over the past week. Reported Earnings • Feb 24
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: US$0.003 (down from US$0.056 in FY 2020). Revenue: US$329.1m (up 79% from FY 2020). Net income: US$400.0k (down 93% from FY 2020). Profit margin: 0.1% (down from 3.2% in FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 22%, compared to a 26% growth forecast for the oil industry in Norway. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 11
BW Epic Kosan Ltd. to Report Fiscal Year 2021 Results on Feb 22, 2022 BW Epic Kosan Ltd. announced that they will report fiscal year 2021 results on Feb 22, 2022 Duyuru • Feb 02
BW Epic Kosan Ltd. Appoints Rita Granlund as Independent Non-Executive Director, Effective 1 February 2022 BW Epic Kosan Ltd. announced that it has appointed Rita Granlund as an independent Non-Executive Director of the Company with effect from 1 February 2022. This appointment increases BWEK's Board of Directors to six. She will also join the Company's Audit Committee. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS US$0.02 (vs US$0.02 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$92.3m (up 103% from 3Q 2020). Net income: US$3.90m (up US$6.50m from 3Q 2020). Profit margin: 4.2% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 18
Second quarter 2021 earnings released The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: US$81.5m (up 78% from 2Q 2020). Net income: US$3.30m (down 27% from 2Q 2020). Profit margin: 4.0% (down from 9.8% in 2Q 2020). Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improved over the past week After last week's 21% share price gain to US$24.50, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 8x in the Oil and Gas industry in Norway. Total returns to shareholders of 172% over the past three years. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improved over the past week After last week's 16% share price gain to US$20.90, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Oil and Gas industry in Norway. Total returns to shareholders of 121% over the past three years. Reported Earnings • May 14
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$59.8m (up 25% from 1Q 2020). Net income: US$7.00m (up 204% from 1Q 2020). Profit margin: 12% (up from 4.8% in 1Q 2020). Major Estimate Revision • May 07
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from US$183.0m to US$274.0m. EPS estimate fell from US$0.06 to US$0.02. Net income forecast to shrink 49% next year vs 23% decline forecast for Oil and Gas industry in Norway. Consensus price target up from kr19.61 to kr21.88. Share price rose 4.9% to kr19.19 over the past week. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS US$0.056 (vs US$0.054 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$184.0m (up 7.1% from FY 2019). Net income: US$5.92m (up US$11.7m from FY 2019). Profit margin: 3.2% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has increased by 150% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 55% share price gain to US$27.00, the stock trades at a forward P/E ratio of 53x. Average forward P/E is 17x in the Oil and Gas industry in Norway. Total returns to shareholders of 120% over the past three years. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 21% share price gain to US$16.60, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 8x in the Oil and Gas industry in Norway. Total returns to shareholders of 28% over the past three years. Executive Departure • Mar 13
Director has left the company On the 11th of March, Christopher Buttery's tenure in the role of Director ended. We don't have any record of a personal shareholding under Christopher's name. A total of 2 executives have left over the last 12 months. Executive Departure • Mar 13
Director has left the company On the 11th of March, Billy Chiu's tenure as Director ended after 2.0 years in the role. We don't have any record of a personal shareholding under Billy's name. A total of 2 executives have left over the last 12 months. Duyuru • Mar 13
Epic Gas Ltd. Announces Board Changes Epic Gas Ltd. announced that Christopher Buttery, Billy Chiu and Charles Maltby stepped down from the Board. Kristian Mørch replaces Billy Chiu as member of the Audit Committee. Tommy Thomsen will replace Esben Poulsson as member of the Remuneration Committee. Andreas Sohmen-Pao and Nicholas Lykiardopulo will remain as Chairman of the Remuneration Committee and Audit Committee, respectively. Charles Maltby will continue as CEO of the combined entity. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to US$13.80, the stock is trading at a trailing P/E ratio of 29.5x, down from the previous P/E ratio of 34.8x. This compares to an average P/E of 13x in the Oil and Gas industry in Norway. Total returns to shareholders over the past three years are 16%. Is New 90 Day High Low • Mar 04
New 90-day low: kr14.30 The company is down 1.0% from its price of kr14.40 on 02 December 2020. The Norwegian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 16% over the same period. Major Estimate Revision • Feb 24
Analysts update estimates The Oil and Gas industry in Norway is expected to see a 6.5% decline in net income next year. The consensus price target increased from kr2.23 to kr2.36. Share price is down by 3.0% to kr16.30 over the past week. Reported Earnings • Feb 19
Full year 2020 earnings released: EPS US$0.055 (vs US$0.054 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$183.2m (up 6.3% from FY 2019). Net income: US$5.90m (up US$11.6m from FY 2019). Profit margin: 3.2% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has increased by 150% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 19
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.8%. Earnings per share (EPS) also surpassed analyst estimates by 100%. Over the next year, revenue is forecast to stay flat compared to a 24% growth forecast for the Oil and Gas industry in Norway. Major Estimate Revision • Feb 11
Analysts lower EPS estimates to US$0.03 The 2020 consensus revenue estimate was lowered from US$184.0m to US$182.0m. Earning per share (EPS) estimate was also lowered from US$0.04 to US$0.03 for the same period. Net income is expected to shrink by 77% next year compared to 23% decline forecast for the Oil and Gas industry in Norway. The consensus price target increased from kr2.07 to kr2.23. Share price is down by 2.6% to kr14.80 over the past week. Duyuru • Feb 09
Epic Gas Ltd. to Report Fiscal Year 2020 Results on Feb 17, 2021 Epic Gas Ltd. announced that they will report fiscal year 2020 results on Feb 17, 2021 Is New 90 Day High Low • Dec 14
New 90-day high: kr17.10 The company is up 14% from its price of kr15.00 on 15 September 2020. The Norwegian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 11% over the same period. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 19% share price gain to US$17.10, the stock is trading at a trailing P/E ratio of 63.3x, up from the previous P/E ratio of 53.3x. This compares to an average P/E of 6x in the Oil and Gas industry in Norway. Total returns to shareholders over the past three years are 47%. Valuation Update With 7 Day Price Move • Nov 27
Market bids up stock over the past week After last week's 16% share price gain to US$16.00, the stock is trading at a trailing P/E ratio of 64.8x, up from the previous P/E ratio of 55.9x. This compares to an average P/E of 5x in the Oil and Gas industry in Norway. Total returns to shareholders over the past three years are 78%. Major Estimate Revision • Nov 19
Analysts update estimates The 2020 consensus earning per share (EPS) estimate was lowered from US$0.08 to US$0.04. Revenue estimate was approximately flat at US$184.0m. Net income is expected to grow by 366% next year compared to 22% decline forecast for the Oil and Gas industry in Norway. The consensus price target increased from kr2.03 to kr2.09. Share price stayed mostly flat at kr13.80 over the past week. Analyst Estimate Surprise Post Earnings • Nov 13
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 6.6%, compared to a 9.4% growth forecast for the Oil and Gas industry in Norway. Duyuru • Nov 03
Epic Gas Ltd. to Report Q3, 2020 Results on Nov 12, 2020 Epic Gas Ltd. announced that they will report Q3, 2020 results on Nov 12, 2020