Hemisphere Energy Full Year 2023 Earnings: Misses Expectations
Hemisphere Energy (CVE:HME) Full Year 2023 Results
Key Financial Results
Revenue: CA$68.6m (down 5.0% from FY 2022).
Net income: CA$24.2m (up 14% from FY 2022).
Profit margin: 35% (up from 30% in FY 2022). The increase in margin was driven by lower expenses.
EPS: CA$0.24 (up from CA$0.21 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Hemisphere Energy Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 16%.
Looking ahead, revenue is expected to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to grow by 5.3%.
Performance of the Canadian Oil and Gas industry.
The company's shares are down 1.2% 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 Hemisphere Energy (1 doesn't sit too well with us!) that you need to be mindful of.
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