Hammerhead Energy Full Year 2022 Earnings: EPS: CA$0.51 (vs CA$0.24 loss in FY 2021)

·1 min read

Hammerhead Energy (NASDAQ:HHRS) Full Year 2022 Results

Key Financial Results

  • Revenue: CA$743.1m (up 85% from FY 2021).

  • Net income: CA$199.9m (up from CA$93.6m loss in FY 2021).

  • Profit margin: 27% (up from net loss in FY 2021). The move to profitability was driven by higher revenue.

  • EPS: CA$0.51 (up from CA$0.24 loss in FY 2021).

HHRS Production and Reserves

Oil Reserves and Sales Price

  • Proven reserves: 38.936 MMbbls.

  • Average sales price/bbl: US$120.

Gas Reserves and Sales Price

  • Proven reserves: 459.063 Bcf.

  • Average sales price/mcf: US$7.84.

LNG Reserves and Sales Price

  • Proven reserves: 15.391 MMbbls.

  • Average sales price/bbl: US$73.19.

Combined Production and Costs

  • Oil equivalent production: 11.709 MMboe (10.149 MMboe in FY 2021).

  • Average production cost/Boe: US$9.10 (US$8.15/Boe in FY 2021).


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

Hammerhead Energy Earnings Insights

Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.3% decline forecast for the Oil and Gas industry in the US.

Performance of the American Oil and Gas industry.

The company's shares are up 2.2% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 1 warning sign for Hammerhead Energy 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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