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  5. HWX: Hello, Can I please get your view on Headwaters' quarterly results. [Headwater Exploration Inc.]
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Q: Hello,

Can I please get your view on Headwaters' quarterly results. Thanks

Dave
Asked by David on July 29, 2024
5i Research Answer:

EPS beat estimates of 17c coming in at 22c. Sales increased 40% year-over-year coming in at $157M. Production increased 15% from the year prior. HWX executed a $50.7M CAPEX program including 18 net crude oil wells in Marten Hills West and 5 net crude oil wells in Seal.  The stock continues to be cheap and the dividend is easily covered by operating cash flows. We think it was a solid quarter.

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