Karoon Energy (ASX:KAR) Full Year 2023 Results

Key Financial Results

Revenue: US$566.5m (up 47% from FY 2022). Net income: US$163.0m (up from US$64.4m loss in FY 2022). Profit margin: 29% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. EPS: US$0.29 (up from US$0.12 loss in FY 2022).

KAR Production and Reserves

Oil reserves

Proven reserves: 39.8 MMbbls.

Combined production

Oil equivalent production: 7.04 MMboe (4.64 MMboe in FY 2022). earnings-and-revenue-growth

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

Karoon Energy EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.2%.

Looking ahead, revenue is expected to fall by 4.9% p.a. on average during the next 6 years compared to a 1.9% decline forecast for the Oil and Gas industry in Australia.

Performance of the Australian Oil and Gas industry.

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

Risk Analysis

You should always think about risks. Case in point, we've spotted  2 warning signs for Karoon Energy you should be aware of.

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