Logan Energy Full Year 2024 Earnings: Misses Expectations
In This Article:
Logan Energy (CVE:LGN) Full Year 2024 Results
Key Financial Results
-
Revenue: CA$104.2m (up 43% from FY 2023).
-
Net income: CA$4.56m (up from CA$33.8m loss in FY 2023).
-
Profit margin: 4.4% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue.
-
EPS: CA$0.009 (up from CA$0.11 loss in FY 2023).
LGN Production and Reserves
Oil reserves
-
Proven reserves: 14.052 MMbbls.
Gas reserves
-
Proven reserves: 231.153 Bcf.
LNG reserves
-
Proven reserves: 2.99 MMbbls.
Combined production
-
Oil equivalent production: 3.083 MMboe.
All figures shown in the chart above are for the trailing 12 month (TTM) period
Logan Energy Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 67%.
In the last 12 months, the only revenue segment was Oil & Gas - Exploration & Production contributing CA$104.2m. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to CA$41.5m (67% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CA$414.0k. Explore how LGN's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 47% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Oil and Gas industry in Canada.
Performance of the Canadian Oil and Gas industry.
The company's shares are up 1.5% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 2 warning signs for Logan Energy (1 is significant!) that you need to be mindful of.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.