Odfjell Drilling Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

Odfjell Drilling (OB:ODL) Full Year 2024 Results

Key Financial Results

• Revenue: US$775.7m (up 5.9% from FY 2023).
• Net income: US$64.7m (down 71% from FY 2023).
• Profit margin: 8.3% (down from 30% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.27 (down from US$0.94 in FY 2023).

We've discovered 2 warning signs about Odfjell Drilling. View them for free.

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

Odfjell Drilling Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 11%.

The primary driver behind last 12 months revenue was the Own Fleet segment contributing a total revenue of US$598.6m (77% of total revenue). The largest operating expense was General & Administrative costs, amounting to US$283.3m (40% of total expenses). Explore how ODL's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Energy Services industry in Norway.

Performance of the Norwegian Energy Services industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for Odfjell Drilling that we have uncovered.

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