Yahoo Finance Pharos Energy Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags
Pharos Energy (LON:PHAR) Full Year 2023 Results
Key Financial Results
Revenue: US$157.4m (down 15% from FY 2022).
Net loss: US$48.8m (down by 300% from US$24.4m profit in FY 2022).
US$0.11 loss per share (down from US$0.056 profit in FY 2022).
PHAR Production and Reserves
Oil reserves
Proven reserves: 12.9 MMbbls.
Gas reserves
Proven reserves: 6 Bcf.
Combined production
Oil equivalent production: 2.3 MMboe (2.6 MMboe in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Pharos Energy Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 8.3%. Earnings per share (EPS) missed analyst estimates.
The primary driver behind last 12 months revenue was the SE Asia segment contributing a total revenue of US$149.2m (95% of total revenue). Notably, cost of sales worth US$100.7m amounted to 64% of total revenue thereby underscoring the impact on earnings.Explore how PHAR's revenue and expenses shape its earnings.
Looking ahead, revenue is expected to fall by 1.4% p.a. on average during the next 2 years compared to a 1.5% decline forecast for the Oil and Gas industry in the United Kingdom.
Performance of the British Oil and Gas industry.
The company's shares are up 2.9% from a week ago.
Risk Analysis
It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Pharos Energy, and understanding it should be part of your investment process.
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