MEG Energy Full Year 2023 Earnings: EPS Misses Expectations
MEG Energy (TSE:MEG) Full Year 2023 Results
Key Financial Results
Revenue: CA$5.65b (down 7.6% from FY 2022).
Net income: CA$569.0m (down 37% from FY 2022).
Profit margin: 10% (down from 15% in FY 2022). The decrease in margin was driven by lower revenue.
EPS: CA$2.00 (down from CA$2.97 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
MEG Energy EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.0%.
Looking ahead, revenue is expected to decline by 3.1% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Canada are expected to grow by 3.9%.
Performance of the Canadian Oil and Gas industry.
The company's shares are up 8.5% from a week ago.
Risk Analysis
You should learn about the 2 warning signs we've spotted with MEG Energy (including 1 which is a bit concerning).
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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.
