NorAm Drilling reports first quarter 2024 earnings

NorAm (OB:NORAM) Drilling Results for Q1 2024

Key financial results

Revenue: $25.0 million (down 23% from Q1 2023).
Net profit: USD 1.81 million (down 81% compared to Q1 2023).
Profit margin: 7.2% (down from 29% in Q1 2023).

OB:NORAM Earnings and revenue growth May 23, 2024

All data shown in the chart above is for a 12-month (TTM) period.

NorAm Drilling earnings statistics

Looking ahead, revenues are forecast to grow at an average of 2.6% per year over the next 3 years, compared to a growth forecast for the energy services industry in Norway of 5.2%.

Efficiency The Norwegian energy services industry.

The company’s share price did not change substantially compared to a week ago.

Risk assessment

What about the risks? Every company has them and we noticed it 2 warning signs for NorAm Drilling you should know about it.

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Find out if NorAm Drilling is potentially overvalued or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial condition.

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