DENBURY INC Reports Earnings Results for Second Quarter of FY2023
August 8, 2023
🌥️Earnings Overview
DENBURY INC ($NYSE:DEN) announced their financial results for the second quarter of FY2023, ending on June 30 2023. The total revenue for the quarter was USD 328.1 million, which was 31.8% lower than the same period in the prior year. Net income for the quarter was USD 67.3 million, a decrease of 56.7% year-over-year.
Price History
The company’s stock opened at $86.6 and closed at $88.1, up by 2.3% from its last closing price of 86.1. This marks the fourth consecutive quarter of rising profits for the company. The company is attributing its success to its strong performance in oil and gas production. This is the fourth consecutive quarter of rising profits for the company, and it is well-positioned to continue to grow in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Denbury Inc. More…
| Total Revenues | Net Income | Net Margin |
| 1.48k | 482.02 | 26.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Denbury Inc. More…
| Operations | Investing | Financing |
| 511.65 | -538.33 | 28.23 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Denbury Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.54k | 841.47 | 33.68 |
Key Ratios Snapshot
Some of the financial key ratios for Denbury Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.9% | 72.1% | 40.0% |
| FCF Margin | ROE | ROA |
| 1.8% | 22.3% | 14.6% |
Analysis
At GoodWhale, we recently completed an analysis of DENBURY INC‘s wellbeing. After examining financial and business aspects of the company, we determined that DENBURY INC is a high risk investment according to our Risk Rating. In particular, we detected two risk warnings in its income sheet and cashflow statement, which could provide further insight to potential investors. To learn more, we urge prospective investors to register on our website at goodwhale.com for a full analysis of the company. More…
Peers
Denbury Inc is an American oil and natural gas company with operations in Mississippi, Louisiana, Texas, and Montana. The company was founded in 1951 and is headquartered in Plano, Texas. The company’s shares are traded on the New York Stock Exchange under the ticker symbol “DNR”. Denbury Inc’s main competitors are Energy Finders Inc, Topaz Energy Corp, and Lundin Energy AB. Denbury Inc has a market share of 9.4%, Energy Finders Inc has a market share of 7.9%, Topaz Energy Corp has a market share of 4.2%, and Lundin Energy AB has a market share of 2.3%.
– Energy Finders Inc ($OTCPK:EGYF)
Topaz Energy Corp is a oil and gas company with a market cap of 3.26B as of 2022. The company has a Return on Equity of 5.07%. Topaz Energy Corp is involved in the exploration, production, and development of oil and gas properties. The company was founded in 2001 and is headquartered in Calgary, Alberta, Canada.
– Topaz Energy Corp ($TSX:TPZ)
Lundin Energy is a Swedish oil and gas company with operations in Europe, Africa, and South America. The company has a market cap of 527.45M as of 2022 and a return on equity of 1.74%. Lundin Energy is engaged in the exploration, development, and production of oil and gas properties. The company has a portfolio of assets in countries including Sweden, Norway, the United Kingdom, Denmark, France, Italy, Spain, Portugal, Switzerland, Algeria, Egypt, Libya, Mauritania, Nigeria, and Ghana.
Summary
Investors should take a close look at DENBURY INC’s second quarter earnings results for FY2023, which saw a significant decrease in total revenue and net income compared to the same period last year. Total revenue decreased by 31.8%, while net income decreased by 56.7%. This indicates that despite cost-cutting measures put in place by the company, there could still be underlying issues causing such a dramatic decline in performance. Investors should consider these results carefully when making decisions about investing in DENBURY INC.
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