Aug. 19 at 2:08 PM
Noble Capital Markets Research Report: Hemisphere Energy (
$HMENF) – Solid Second Quarter Performance Versus Our Estimates
Second quarter financial results. Hemisphere reported oil and gas revenue of C
$24.4 million in the second quarter, down 15.7% from the prior year period but ahead of our estimate of C
$20.9 million. Net income was C
$7.1 million, or C
$0.07 per share, compared to C
$10.4 million, or C
$0.10 per share, last year, and above our forecast of C
$5.8 million, or C
$0.06 per share. Average daily production rose to 3,826 boe/d, up from 3,628 in Q2 2024 and modestly ahead of our estimate of 3,800 boe/d. The company realized an average sales price of C
$70.06/boe, compared to C
$87.65/boe in the prior year quarter. Adjusted funds flow totaled C
$10.3 million, or C
$0.10 per diluted share, versus C
$13.6 million, or C
$0.14 per diluted share, a year ago. This result exceeded our estimate of C
$8.9 million, or C
$0.09 per diluted share.
Read more: https://www.channelchek.com/news-channel/hemisphere-energy-hmenf-solid-second-quarter-performance-versus-our-estimates