Filing Flows › Primeenergy Resources (PNRG) › Q4 2024
Primeenergy Resources (PNRG) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Apr 15, 2025
Primeenergy Resources (PNRG) reported revenue of $60.5M for the fourth quarter 2024 (Q4 2024), +65% from a year earlier and -13% from the quarter before. Operating margin was 6.8%, net earnings $2.3M (3.8% of revenue).
Primeenergy Resources, Q4 2024: revenue $60.5M (+65% year over year), operating margin 6.8%, net earnings $2.3M, operating cash flow $23.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $60.5M | -13% | +65% |
| Operating profit | $4.1M | -85% | -34% |
| Net earnings | $2.3M | -90% | -61% |
| Operating cash flow | $23.9M | -40% | -38% |
| Free cash flow | $3.1M | — | — |
What changed
Revenue was $60.5M in Q4 2024, up 65% year over year and down 13% from the previous quarter.
Operating profit was $4.1M, a 6.8% margin (down 10.2 points year over year). Operating profit fell $2.1M even though revenue rose $23.8M versus a year earlier, so costs grew faster than sales. Total costs grew 85% against revenue growth of 65%. The fastest-growing cost line was Other operating costs (+128%). Net earnings were $2.3M, down 61% year over year. The effective tax rate was 44.3%.
Operating cash flow was $23.9M (down 38% year over year), 1050% of net earnings. Non-cash charges added back $30.7M of depreciation and amortization. Working capital and other items used $9.0M. Capital expenditures of $20.8M left free cash flow of $3.1M.
Questions
What was Primeenergy Resources' revenue in the fourth quarter 2024?
Primeenergy Resources (PNRG) reported revenue of $60.5M for the fourth quarter 2024 (Q4 2024), +65% from a year earlier and -13% from the quarter before.
Was Primeenergy Resources profitable in the fourth quarter 2024?
Operating profit was $4.1M (6.8% of revenue) and net earnings $2.3M.