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Tidewater Midstream and Infrastructure Full Year 2023 Earnings: Misses Expectations

Tidewater Midstream and Infrastructure (TSE:TWM) Full Year 2023 Results

Key Financial Results

  • Revenue: CA$2.21b (down 23% from FY 2022).

  • Net loss: CA$385.9m (down from CA$8.50m profit in FY 2022).

  • CA$0.91 loss per share (down from CA$0.023 profit in FY 2022).

earnings-and-revenue-growth
TSX:TWM Earnings and Revenue Growth March 15th 2024

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

Tidewater Midstream and Infrastructure Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates significantly.

Looking ahead, revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Oil and Gas industry in Canada.

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Performance of the Canadian Oil and Gas industry.

The company's shares are down 3.7% from a week ago.

Risk Analysis

We should say that we've discovered 1 warning sign for Tidewater Midstream and Infrastructure that you should be aware of before investing here.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.