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Energean Full Year 2022 Earnings: Misses Expectations

Simply Wall St
·1 min read

Energean (LON:ENOG) Full Year 2022 Results

Key Financial Results

  • Revenue: US$737.1m (up 48% from FY 2021).

  • Net income: US$17.3m (up from US$96.0m loss in FY 2021).

  • Profit margin: 2.3% (up from net loss in FY 2021).

  • EPS: US$0.097 (up from US$0.54 loss in FY 2021).

ENOG Production

Combined Production and Costs

  • Oil equivalent production: 15.038 MMboe (14.964 MMboe in FY 2021).

  • Average production cost/Boe: US$18.90 (US$17.50/Boe in FY 2021).

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

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

Energean Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 9.5%. Earnings per share (EPS) also missed analyst estimates by 79%.

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Looking ahead, revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 4.8% decline forecast for the Oil and Gas industry in the United Kingdom.

Performance of the British Oil and Gas industry.

The company's shares are up 8.4% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for Energean (2 are a bit concerning!) that you need to take into consideration.

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.

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