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Canacol Energy Full Year 2023 Earnings: Beats Expectations

Canacol Energy (TSE:CNE) Full Year 2023 Results

Key Financial Results

  • Revenue: US$315.8m (down 5.9% from FY 2022).

  • Net income: US$86.2m (down 41% from FY 2022).

  • Profit margin: 27% (down from 44% in FY 2022).

  • EPS: US$2.53 (down from US$4.31 in FY 2022).

earnings-and-revenue-growth
earnings-and-revenue-growth

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

Canacol Energy Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 16%.

Looking ahead, revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Oil and Gas industry in Canada.

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Performance of the Canadian Oil and Gas industry.

The company's shares are down 14% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 4 warning signs for Canacol Energy (2 are potentially serious!) 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.