Western Energy Services (TSE:WRG) First Quarter 2024 Results

Key Financial Results

• Revenue: CA$62.0m (down 22% from 1Q 2023).

• Net income: CA$1.50m (down 65% from 1Q 2023).

• Profit margin: 2.4% (down from 5.4% in 1Q 2023). The decrease in margin was driven by lower revenue.

• 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% p.a. 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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