Energean Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

editorial-team@simplywallst.com (Simply Wall St)

Sat, Mar 22, 2025, 3:07 AM 1 min read

Energean (LON:ENOG) Full Year 2024 Results

Key Financial Results

Revenue: US$1.31b (down 7.4% from FY 2023).
Net income: US$115.9m (down 37% from FY 2023).
Profit margin: 8.8% (down from 13% in FY 2023). The decrease in margin was driven by lower revenue.
EPS: US$0.63 (down from US$1.04 in FY 2023).

ENOG Production

Combined production

Oil equivalent production: 41.693 MMboe (44.731 MMboe in FY 2023).

revenue-and-expenses-breakdown — LSE:ENOG Revenue and Expenses Breakdown March 22nd 2025

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

Energean Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 32%. Earnings per share (EPS) missed analyst estimates by 26%.

The primary driver behind last 12 months revenue was the Israel segment contributing a total revenue of US$1.24b (94% of total revenue). Notably, cost of sales worth US$702.4m amounted to 53% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling US$272.1m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how ENOG's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the United Kingdom are expected to remain flat.

Performance of the British Oil and Gas industry.

The company's shares are down 7.2% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Energean has 3 warning signs (and 1 which makes us a bit uncomfortable) we think 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.