Apr. 21 at 12:44 PM
Noble Capital Markets Research Report: Hemisphere Energy (
$HMENF) – 2024 Financial Results In line with Expectations, 2025 Outlook
Full-year 2024 financial results. Hemisphere Energy reported full-year net income and earnings per share of C
$33.1 million and C
$0.33, respectively, slightly above our estimates of C
$32.3 million and C
$0.32. The variance is mainly due to stronger oil pricing of
$79.48, compared to our estimate of
$76.31. Year-over-year, oil and natural gas revenue increased ~18% to C
$79.7 million from C
$67.7 million. This increase was driven by increased production and more robust pricing of 3,436 barrels of oil equivalent per day (boe/d) and
$79.48, respectively, compared to 3,125 boe/d and
$74.07. Likewise, adjusted funds flow (AFF) increased 16% in 2024 to C
$45.8 million from C
$39.4 million in 2023. We had forecast AFF of C
$45.4 million.
Read more: https://www.channelchek.com/news-channel/hemisphere-energy-hmenf-2024-financial-results-in-line-with-expectations-2025-outlook