Yahoo Finance Nordic American Tankers Full Year 2023 Earnings: Misses Expectations
Nordic American Tankers (NYSE:NAT) Full Year 2023 Results
Key Financial Results
Revenue: US$391.7m (up 15% from FY 2022).
Net income: US$98.7m (up by US$83.6m from FY 2022).
Profit margin: 25% (up from 4.5% in FY 2022). The increase in margin was primarily driven by higher revenue.
EPS: US$0.47 (up from US$0.075 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Nordic American Tankers Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 10%.
Looking ahead, revenue is expected to decline by 10% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 2.2%.
Performance of the American Oil and Gas industry.
The company's shares are up 2.4% from a week ago.
Risk Analysis
What about risks? Every company has them, and we've spotted 2 warning signs for Nordic American Tankers (of which 1 can't be ignored!) you should know about.
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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.
