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VAALCO Energy Third Quarter 2022 Earnings: Revenues Beat Expectations, EPS Lags

VAALCO Energy (NYSE:EGY) Third Quarter 2022 Results

Key Financial Results

  • Revenue: US$78.1m (up 40% from 3Q 2021).

  • Net income: US$6.89m (down 78% from 3Q 2021).

  • Profit margin: 8.8% (down from 56% in 3Q 2021). The decrease in margin was driven by higher expenses.

  • EPS: US$0.12 (down from US$0.54 in 3Q 2021).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

VAALCO Energy Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 25%. Earnings per share (EPS) missed analyst estimates by 31%.

Looking ahead, revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 6.5% decline forecast for the Oil and Gas industry in the US.

Performance of the American Oil and Gas industry.

The company's shares are down 1.8% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for VAALCO Energy (2 make us uncomfortable!) that you need to be mindful of.

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.

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