The earnings call presented a balanced view of Meren's performance. The company is demonstrating strong financial discipline with substantial dividend distributions and successful debt reduction. However, there are challenges with slightly softer production volumes and revised financial guidance due to lower oil prices.

Company Guidance -

Q3 2025

During Meren's Second Quarter 2025 Results Presentation, the company provided guidance on various financial and operational metrics. Meren confirmed its commitment to a $100 million annual dividend distribution, with $75 million already returned to shareholders by the end of Q3 2025. The company also emphasized its focus on maintaining a robust balance sheet, having repaid $270 million of the RBL to minimize interest expenses, and reported an end-of-Q2 cash position of $266 million. Production guidance was slightly adjusted due to temporary factors, but the overall first-half performance aligned with expectations. Meren completed oil liftings at an average price of $64.2 per barrel in Q2, with 6 liftings planned for the remainder of the year. EBITDAX for Q2 was approximately $107 million, contributing to a year-to-date total of $248 million. The company revised its 2025 guidance, adjusting EBITDAX and cash flow estimates due to lower anticipated oil prices, with a forecasted full-year average Dated Brent price of $68.5 per barrel. Meren continues to prioritize cash management and deleveraging, reducing its RBL balance to $418 million post-Q2, and maintains a net-debt-to-EBITDA ratio of 0.6x.

Strong Dividend Commitment

Meren is on track to deliver a $100 million annual dividend distribution, having already returned $75 million by Q3.

Successful Debt Reduction

Meren repaid $270 million of the RBL in H1 2025, with plans for further reductions, improving its financial strength and reducing interest expenses.

Positive Developments in Namibia

Progress on the Venus development project in Namibia with potential for the Final Investment Decision in H1 2026 and First Oil by 2029.

Increased Production from New Wells

Two new Egina wells came on stream, performing in line with expectations and aiding in offsetting natural field decline.

Strong Credit Profile

A net-debt-to-EBITDA ratio of 0.6x, demonstrating financial strength with substantial liquidity.

Africa Oil (TSE:MER) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:MER Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 13, 2025	2025 (Q3)	- / -	-0.911	―	―	―
Aug 12, 2025	2025 (Q2)	- / 0.00	0	―
May 14, 2025	2025 (Q1)	0.01 / 0.15	0.014	1000.00% (+0.14)
Feb 28, 2025	2024 (Q4)	0.03 / 0.03	-0.257	111.28% (+0.29)
Nov 13, 2024	2024 (Q3)	0.03 / -0.91	0.137	-764.96% (-1.05)
Aug 14, 2024	2024 (Q2)	0.12 / 0.00	0.31	―
May 15, 2024	2024 (Q1)	0.07 / 0.01	0.067	-79.10% (-0.05)
Feb 26, 2024	2023 (Q4)	0.06 / -0.26	-0.531	51.60% (+0.27)
Nov 14, 2023	2023 (Q3)	0.24 / 0.14	0.186	-26.34% (-0.05)
Aug 14, 2023	2023 (Q2)	0.08 / 0.31	0.013	2284.62% (+0.30)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:MER Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 12, 2025	C$1.68	C$1.64	-2.32%
May 14, 2025	C$1.74	C$1.76	+1.09%
Feb 28, 2025	C$1.73	C$1.77	+2.14%
Nov 13, 2024	C$1.64	C$1.67	+1.65%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Africa Oil (TSE:MER) report earnings?

Africa Oil (TSE:MER) is schdueled to report earning on Nov 13, 2025, TBA (Confirmed).

What is Africa Oil (TSE:MER) earnings time?

Africa Oil (TSE:MER) earnings time is at Nov 13, 2025, TBA (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:MER EPS forecast?

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