Surge Energy Third Quarter 2022 Earnings: Beats Expectations
Surge Energy (TSE:SGY) Third Quarter 2022 Results
Key Financial Results
Revenue: CA$147.3m (up 63% from 3Q 2021).
Net income: CA$78.1m (up 15% from 3Q 2021).
Profit margin: 53% (down from 75% in 3Q 2021). The decrease in margin was driven by higher expenses.
EPS: CA$0.93.
All figures shown in the chart above are for the trailing 12 month (TTM) period
Surge Energy Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 9.3%. Earnings per share (EPS) also surpassed analyst estimates by 84%.
Looking ahead, revenue is forecast to decline by 9.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to remain flat.
Performance of the Canadian Oil and Gas industry.
The company's shares are down 4.5% from a week ago.
Risk Analysis
You still need to take note of risks, for example - Surge Energy has 4 warning signs (and 1 which is significant) we think 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.
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