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Africa Oil (TSE:AOI)
TSX:AOI
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.04Last Year’s EPS
-0.26Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2018
|% Change Since: 12.92%
|Next Earnings Date:Aug 14, 2018
Earnings Call Sentiment|Positive
The earnings call highlighted significant progress in the amalgamation deal with Prime and increased production rates, alongside plans for enhanced shareholder returns. However, it also disclosed a substantial noncash impairment loss and a decreased cash balance. Despite these challenges, the overall sentiment was more positive due to strategic advancements and improved production metrics.Company Guidance
In the earnings call for Africa Oil Corp. (AOI.TO) regarding their Q3 2024 results, several key metrics and guidance points were discussed. The company anticipates completing the amalgamation with Prime by the end of Q1 2025, possibly as early as January to mid-February. Africa Oil expects to double its reserves and production base, with projections for a threefold increase in dividend distributions. Operating and free cash flows are set to rise significantly, enhancing their competitive position. For production, the company forecasts an entitlement production close to the midpoint of their guidance range of 18,000-21,000 barrels of oil equivalent per day, with working interest production adjusted to a range of 16,500-18,500 barrels per day. Prime achieved superior sales prices in Q3 2024, averaging $80.8 per barrel, slightly above the average stated Brent price of $80.3. The company also reported a noncash impairment of $305 million on its investment in Prime due to a decrease in Africa Oil's share price. Net adjusted income for the quarter was $25.3 million, up from $21.9 million in Q3 2023.Amalgamation Deal Progress
Africa Oil made significant progress in completing the amalgamation deal with Prime, receiving regulatory and competition clearance, with anticipated completion by Q1 2025.
Increased Production Rates
Q3 2024 saw a 13% increase in average daily production to 17,900 barrels of oil equivalent per day compared to Q2. Post-period production rose further to 18,100 barrels per day.
Superior Brent Pricing
Prime achieved an average sales price of $80.8 per barrel in Q3, exceeding the average Brent price of $80.3 per barrel.
New Shareholder Return Program
Following the Prime consolidation, Africa Oil plans to introduce a new shareholder return program, including a threefold increase in dividend distributions.
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TSE:AOI Earnings History
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
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TSE:AOI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | C$1.78 | C$1.81 | +1.69% |
| Aug 14, 2024 | C$2.13 | C$2.08 | -2.30% |
| May 15, 2024 | C$2.36 | C$2.32 | -1.66% |
| Feb 26, 2024 | C$2.20 | C$2.02 | -8.35% |
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.
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FAQ
When does Africa Oil (TSE:AOI) report earnings?
Africa Oil (TSE:AOI) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Africa Oil (TSE:AOI) earnings time?
Africa Oil (TSE:AOI) earnings time is at Feb 26, 2025, TBA Not 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:AOI EPS forecast?
TSE:AOI EPS forecast for the fiscal quarter 2024 (Q4) is 0.04.
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