Yahoo Finance International Petroleum Full Year 2022 Earnings: Misses Expectations
International Petroleum (TSE:IPCO) Full Year 2022 Results
Key Financial Results
Revenue: US$1.14b (up 71% from FY 2021).
Net income: US$337.7m (up 131% from FY 2021).
Profit margin: 30% (up from 22% in FY 2021). The increase in margin was driven by higher revenue.
EPS: US$2.30 (up from US$0.94 in FY 2021).
IPCO Production
Oil Sales Price
Average sales price/bbl (hedged): US$81.66.
Gas Sales Price
Average sales price/mcf (hedged): US$4.72.
Combined production
Oil equivalent production: 17.74 MMboe (16.61 MMboe in FY 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
International Petroleum Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 3.4%.
Looking ahead, revenue is expected to fall by 2.5% p.a. on average during the next 3 years compared to a 2.4% decline forecast for the Oil and Gas industry in Canada.
Performance of the Canadian Oil and Gas industry.
The company's shares are down 12% from a week ago.
Risk Analysis
It is worth noting though that we have found 1 warning sign for International Petroleum that you need to take into consideration.
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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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