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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).

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

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%.

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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.

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.