VAALCO Energy Full Year 2023 Earnings: Beats Expectations
VAALCO Energy (NYSE:EGY) Full Year 2023 Results
Key Financial Results
Revenue: US$455.1m (up 28% from FY 2022).
Net income: US$60.4m (up 18% from FY 2022).
Profit margin: 13% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses.
EPS: US$0.57.
All figures shown in the chart above are for the trailing 12 month (TTM) period
VAALCO Energy Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) also surpassed analyst estimates by 35%.
Looking ahead, revenue is expected to decline by 6.1% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 1.7%.
Performance of the American Oil and Gas industry.
The company's shares are up 26% from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 1 warning sign for VAALCO Energy that you should be aware of.
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