Western Energy Services (TSE:WRG) First Quarter 2024 Results
Key Financial Results
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Revenue: CA$62.0m (down 22% from 1Q 2023).
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Net income: CA$1.50m (down 65% from 1Q 2023).
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Profit margin: 2.4% (down from 5.4% in 1Q 2023). The decrease in margin was driven by lower revenue.
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EPS: CA$0.044 (down from CA$0.13 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Western Energy Services Earnings Insights
Looking ahead, revenue is forecast to grow 4.2% pa on average during the next 2 years, compared to a 10% decline forecast for the Energy Services industry in Canada.
Performance of the Canadian Energy Services industry.
The company’s shares are down 4.3% from a week ago.
Risk Analysis
You still need to take note of risks, for example – Western Energy Services has 1 warning sign we think you should be aware of.
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