Profire Energy Down 0.60% To $1.67 After Earnings Beat

Profire Energy, Inc. (PFIE) beat out earnings estimates for Q4 2023 this afternoon.

Analyst expectations for Profire Energy earnings per share (EPS) were at $0.04, with the company surpassing those estimates with a reported EPS of $0.07, leading to a positive surprise of $0.03 per share (75%). Profire Energy's earnings rose 75% year-over-year as the firm reported an EPS of $0.04 in its year-ago quarter. The positive annual growth shows the Energy company is performing well amid recent economic conditions.

Revenues were downbeat at $14.4 million. That is an increase of 2.86% in revenues from the year-ago report and is 1.44% lower than consensus estimates set at $14.6 million.

The stock is down 0.60% to $1.67 after the report.

Profire Energy's earnings expanded faster than revenues, signaling widening profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Profire Energy has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 22, putting Profire Energy in the bottom 25% of stocks. The firm set a 52-week high on September 20, 2023 at $3.29 and set a 52-week low on May 4, 2023 at $1.09.

Profire Energy Inc is an oilfield technology company operating in the United States. It is engaged in the business of developing combustion management technologies for the oil and gas industry. The company specializes in the creation of burner-management systems, used on a variety of oilfield natural-draft fire tube vessels. In addition to the burner-management systems, the company also sell complementary oilfield products to its customer. The company sells its products in North America as well as in France, Italy, Ukraine, India, Nigeria, the Middle East, Australia, and Brazil. Geographically, the company divides its business into two business unit namely United States and Canada and most of its revenue comes from the United States.