PetroChina Second Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 08/31 02:29

PetroChina (HKG:857) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥741.7b (flat on 2Q 2023).
  • Net income: CN¥42.9b (up 3.1% from 2Q 2023).
  • Profit margin: 5.8% (up from 5.6% in 2Q 2023).
  • EPS: CN¥0.23 (up from CN¥0.23 in 2Q 2023).
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SEHK:857 Earnings and Revenue Growth August 31st 2024

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

PetroChina Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 12%.

Looking ahead, revenue is forecast to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Hong Kong are expected to remain flat.

Performance of the Hong Kong Oil and Gas industry.

The company's shares are up 4.6% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for PetroChina you should be aware of, and 1 of them is a bit concerning.