In This Article:
Ithaca Energy (LON:ITH) Full Year 2022 Results
Key Financial Results
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Revenue: US$2.60b (up 77% from FY 2021).
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Net income: US$1.03b (up 117% from FY 2021).
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Profit margin: 40% (up from 32% in FY 2021).
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EPS: US$1.03 (up from US$0.007 in FY 2021).
ITH Production
Oil Sales Price
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Average sales price/bbl (hedged): US$91.00.
Gas Sales Price
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Average sales price/mcf (hedged): US$23.62.
Combined Production Costs
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Average production cost/Boe: US$19.00 (US$18.00/Boe in FY 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Ithaca Energy Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 36%.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 3.0% 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 down 2.1% from a week ago.
Risk Analysis
It is worth noting though that we have found 3 warning signs for Ithaca Energy (1 is concerning!) 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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