Santos First Half 2023 Earnings: EPS Beats Expectations, Revenues Lag
Santos (ASX:STO) First Half 2023 Results
Key Financial Results
Revenue: US$2.97b (down 21% from 1H 2022).
Net income: US$790.0m (down 32% from 1H 2022).
Profit margin: 27% (down from 31% in 1H 2022). The decrease in margin was driven by lower revenue.
EPS: US$0.24 (down from US$0.35 in 1H 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Santos EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 3.2%.
Looking ahead, revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 1.9% decline forecast for the Oil and Gas industry in Australia.
Performance of the Australian Oil and Gas industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
What about risks? Every company has them, and we've spotted 1 warning sign for Santos you should know about.
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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.
