Amplify Energy Third Quarter 2022 Earnings: Beats Expectations
Amplify Energy (NYSE:AMPY) Third Quarter 2022 Results
Key Financial Results
Revenue: US$126.3m (up 30% from 3Q 2021).
Net income: US$45.0m (up from US$13.5m loss in 3Q 2021).
Profit margin: 36% (up from net loss in 3Q 2021). The move to profitability was primarily driven by higher revenue.
EPS: US$1.17 (up from US$0.35 loss in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Amplify Energy Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 51%. Earnings per share (EPS) also surpassed analyst estimates significantly.
Looking ahead, revenue is expected to fall by 17% p.a. on average during the next 2 years compared to a 6.5% decline forecast for the Oil and Gas industry in the US.
Performance of the American Oil and Gas industry.
The company's shares are down 3.8% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 4 warning signs for Amplify Energy (2 don't sit too well with us!) that you should be aware of.
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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.
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