Profire Energy Second Quarter 2023 Earnings: Beats Expectations
Profire Energy (NASDAQ:PFIE) Second Quarter 2023 Results
Key Financial Results
Revenue: US$14.4m (up 50% from 2Q 2022).
Net income: US$2.86m (up by US$2.57m from 2Q 2022).
Profit margin: 20% (up from 3.0% in 2Q 2022). The increase in margin was driven by higher revenue.
EPS: US$0.06 (up from US$0.006 in 2Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Profire Energy Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) also surpassed analyst estimates by 33%.
Looking ahead, revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Energy Services industry in the US.
Performance of the American Energy Services industry.
The company's shares are up 20% from a week ago.
Risk Analysis
Before you take the next step you should know about the 2 warning signs for Profire Energy (1 is a bit unpleasant!) that we have uncovered.
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.
