Santos Full Year 2023 Earnings: Misses Expectations

[email protected] (Simply Wall St)
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Santos (ASX:STO) Full Year 2023 Results

Key Financial Results

  • Revenue: US$5.89b (down 24% from FY 2022).

  • Net income: US$1.42b (down 33% from FY 2022).

  • Profit margin: 24% (down from 27% in FY 2022). The decrease in margin was driven by lower revenue.

  • EPS: US$0.43 (down from US$0.63 in FY 2022).

earnings-and-revenue-growth
earnings-and-revenue-growth

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

Santos Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 3.4%.

Looking ahead, revenue is forecast to grow 6.2% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Australia are expected to remain flat.

Performance of the Australian Oil and Gas industry.

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

Risk Analysis

It is worth noting though that we have found 1 warning sign for Santos that you need to take into consideration.

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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.

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