In This Article:
Parex Resources (TSE:PXT) Second Quarter 2024 Results
Key Financial Results
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Revenue: US$305.9m (up 12% from 2Q 2023).
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Net income: US$3.85m (down 96% from 2Q 2023).
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Profit margin: 1.3% (down from 37% in 2Q 2023). The decrease in margin was driven by higher expenses.
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EPS: US$0.038 (down from US$0.95 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Parex Resources Earnings Insights
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 4.5% growth forecast for the Oil and Gas industry in Canada.
Performance of the Canadian Oil and Gas industry.
The company's shares are down 17% from a week ago.
Valuation
Our analysis of Parex Resources based on 6 different valuation metrics shows it might be undervalued. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.
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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.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com