Greenfire Resources (NYSE:GFR) Second Quarter 2024 Results

Key Financial Results

• Revenue: CA$208.6m (up 24% from 2Q 2023).

• Net income: CA$30.8m (up 27% from 2Q 2023).

• Profit margin: 15% (in line with 2Q 2023).

• EPS: CA$0.45.

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

Greenfire Resources Earnings Insights

Looking ahead, revenue is forecast to grow 41% p.a. on average during the next 2 years, compared to a 1.9% growth forecast for the Oil and Gas industry in the US.

Performance of the American Oil and Gas industry.

The company's shares are up 5.0% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with Greenfire Resources (at least 2 which are concerning), and understanding these should be part of your investment process.

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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.