Skip to main content

Houston Natural Resources (OTC: HNRC) Spotlight Stock: Reports EPS of $0.06, Revenue of $21.12M for Fiscal 2023

This morning, there could be considerable focus on the Houston Natural Resources Corp. (OTC:HNRC) stock after the company announced its financial results for the fiscal year that ended on December 31, 2023. In light of the announcement, it could be a good move for investors to take a look at the key numbers. The total revenues for the 12 months came in at $21,117,265, which worked out to an increase of 2.9% from the revenues of $20,516,899 in the previous fiscal year.

The total earnings in the period shot up 19.3% from the previous year to $11,501,687 from $9,641,297 in the 2022 fiscal year. The earnings per share came in at $0.06, and at the end of the period, the net asset value for Houston Natural Resources Corp. stood at $0.42 per share. In the news release, the company further stated that it remained focused on traditional oil and gas exploration work. However, it was also going to be focused on energy transition materials like lithium, gold, copper, and other precious and rare earth materials.

Additionally, Houston Natural Resources Corp. also enumerated some of its major achievements in the fiscal year that ended on December 31, 2023. The company noted that during the fiscal year it completed the 100% acquisition of Cunningham Energy LLC. Cunningham had been established in 2008 and had been involved in the acquisition, exploration, and production of oil and gas in the Western Basin, Illinois, and Appalachia. Another significant development was an investment that it made in the black-check company HNR Acquisition Corp. On November 15, 2023, HNR Acquisition Corp. completed a business combination and became a separate oil and natural gas entity of its own. Another key development for the company in the fiscal year was the acquisition of a 40% stake in Rhino Energy Pty Ltd.

 

Disclaimers: The Private Securities Litigation Reform Act of 1995 provides investors with a safe harbor with regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, assumptions, objectives, goals, and assumptions about future events or performance are not statements of historical fact and may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements, indicating certain actions & quotes; may, could or might occur Understand there is no guarantee past performance is indicative of future results. Investing in micro-cap or growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor's investment may be lost or due to the speculative nature of the companies profiled. TheStreetReports (TSR) is responsible for the production and distribution of this content."TSR" is not operated by a licensed broker, a dealer, or a registered investment advisor. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. "TSR" authors, contributors, or its agents, may be compensated for preparing research, video graphics, podcasts and editorial content. "TSR" has not been compensated to produce content related to "Any Companies" appearing herein. As part of that content, readers, subscribers, and everyone viewing this content are expected to read the full disclaimer in our website.

 

Media Contact
Company Name: The Street Reports
Contact Person: Editor
Email: Send Email
Country: United States
Website: http://www.thestreetreports.com


Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.