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Pieridae Energy Ltd (TSE:PEA)
:PEA
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Earnings Data
Report Date
Mar 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
0.04Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 29, 2019
|% Change Since: 27.27%
|Next Earnings Date:May 29, 2019
Earnings Call Sentiment|Positive
The earnings call presented a picture of strategic progress with significant debt reduction, asset sales, and operational improvements, offset by challenges due to low natural gas prices necessitating production shut-ins. The company's strong hedge gains and successful capital raises bolster its financial position.Company Guidance
During the Pieridae Energy Q3 2024 earnings call, the company outlined several key financial metrics and strategic accomplishments. Despite the challenging AECO natural gas prices averaging $0.64 per gigajoule, Pieridae reported a net operating income of nearly $20 million, largely due to a substantial $27 million gain from natural gas hedging. The company successfully closed the sale of its Goldboro LNG assets, generating $12 million in cash proceeds, which, along with a $4.5 million equity raise, enabled the repayment of a high-interest bridge loan. Production volumes were notably impacted by the voluntary shut-in of approximately 9,400 BOEs per day of uneconomic volumes and maintenance at the Waterton gas plant, resulting in a total production of about 23,100 BOEs per day. Operating expenses decreased by 30% to $38.4 million, driven by cost reductions from shut-ins and carbon tax efficiencies. Additionally, a successful rights offering brought in $33.5 million, with $15 million allocated for low-risk optimization projects aimed at enhancing key performance indicators. The company remains nearly fully hedged on natural gas at $3.32 per GJ, securing a stable financial outlook amid market volatility.Successful Sale of Goldboro LNG Assets
Pieridae Energy successfully closed the sale of its Goldboro liquefied natural gas assets, generating $12 million in cash proceeds, which were used to repay a bridge loan.
Significant Hedge Gains
The company realized a hedge gain of nearly $27 million in the quarter, significantly supporting its net operating income of nearly $20 million despite low AECO gas prices.
Debt Reduction and Equity Raise
Repayment of the bridge loan was achieved, reducing the company's cost of debt, and a $29 million equity raise through a backstopped rights offering was completed, reducing net debt to $178 million.
Third-Party Processing Volume Growth
Year-over-year increase in third-party processing volumes of 49% at the Caroline gas plant, reflecting growth in the midstream processing business.
Operating Expense Reduction
Operating expenses reduced by 30% compared to the prior year, primarily due to temporary shut-ins of uneconomic production and improvements in carbon tax efficiency.
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TSE:PEA 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:PEA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | C$0.22 | C$0.22 | 0.00% |
| Aug 13, 2024 | C$0.34 | C$0.34 | 0.00% |
| May 08, 2024 | C$0.40 | C$0.40 | 0.00% |
| Mar 20, 2024 | C$0.34 | C$0.33 | -2.94% |
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 Pieridae Energy Ltd (TSE:PEA) report earnings?
Pieridae Energy Ltd (TSE:PEA) is schdueled to report earning on Mar 19, 2025, TBA Not Confirmed.
What is Pieridae Energy Ltd (TSE:PEA) earnings time?
Pieridae Energy Ltd (TSE:PEA) earnings time is at Mar 19, 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:PEA EPS forecast?
Currently, no data Available
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