International Petroleum (TSE:IPCO) Full Year 2024 Results

Key Financial Results

Revenue: US$793.0m (down 6.6% from FY 2023). Net income: US$102.2m (down 41% from FY 2023). Profit margin: 13% (down from 20% in FY 2023). The decrease in margin was primarily driven by lower revenue. EPS: US$0.82 (down from US$1.31 in FY 2023).

IPCO Production

Combined production

Oil equivalent production: 17.34 MMboe (18.65 MMboe in FY 2023).TSX:IPCO Revenue and Expenses Breakdown February 16th 2025

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

International Petroleum Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) also missed analyst estimates by 26%.

The primary driver behind last 12 months revenue was the Canada segment contributing a total revenue of US$624.3m (79% of total revenue). Notably, cost of sales worth US$443.5m amounted to 56% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$138.6m (56% of total expenses). Explore how IPCO's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Oil and Gas industry in Canada.

Performance of the Canadian Oil and Gas industry.

The company's shares are up 1.1% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for International Petroleum (1 is potentially serious!) that you need to take into consideration.

Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.

View Comments