Aker BP : Operating results in line but disappointing adjusted net income – EPS estimates and target price downgraded
>Results in line overall but underwhelming net income - Aker BP’s Q1 2023 results were broadly in line, although its net income of $ 187m (+67% q-o-q) came in well short of our expectations and the Bloomberg consensus. The miss stems from a higher-than-expected tax rate of 90% vs 79%, with impairments not being deductible. But CFFO posted an increase, at $ 1.682bn vs $ 807m in Q4, with FCF also higher at $ 977m vs $ 99m.Not much growth in the short and m...Aker BP ASA engages in the exploration, development, and production of petroleum resources on the Norwegian Shelf. In addition, Co. has a separate Johan Sverdrup business unit to manage its interest.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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