Whitecap Resources (TSE:WCP) Second Quarter 2024 Results

Key Financial Results

• Revenue: CA$905.4m (up 22% from 2Q 2023).

• Net income: CA$244.5m (up 39% from 2Q 2023).

• Profit margin: 27% (up from 24% in 2Q 2023). The increase in margin was driven by higher revenue.

• EPS: CA$0.41 (up from CA$0.29 in 2Q 2023).

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

Whitecap Resources Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 58%.

Looking ahead, revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Oil and Gas industry in Canada.

Performance of the Canadian Oil and Gas industry.

The company's share price is broadly unchanged from a week ago.

Valuation

It's possible that Whitecap Resources could be undervalued with our 6-factor valuation analysis indicating a potential opportunity. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.

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