In This Article:
Canacol Energy (TSE:CNE) Third Quarter 2024 Results
Key Financial Results
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Revenue: US$94.5m (up 20% from 3Q 2023).
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Net income: US$10.3m (up from US$524.0k loss in 3Q 2023).
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Profit margin: 11% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue.
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EPS: US$0.30 (up from US$0.015 loss in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Canacol Energy Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 62%.
Looking ahead, revenue is forecast to decline by 12% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to remain flat.
Performance of the Canadian Oil and Gas industry.
The company's shares are up 9.6% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 3 warning signs for Canacol Energy you should be aware of, and 1 of them shouldn't be ignored.
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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.