Demo
GBR NYSE AM· New Concept Energy Inc.
FundamentalsNews digest Peer analysis
Login
GBR NYSE AM· New Concept Energy Inc.
Earnings report Q3 2023

GBR Reports Decrease in Revenue for Q3 2023

Segments of revenue

In the third quarter of 2023, GBR reported total revenue of $35,000, which consisted of $25,000 from rental revenue and $10,000 from management fees. This represents a decrease compared to the same period in 2022, where rental revenue was $25,000 and management fees were $38,000.

Strengths

Despite the decrease in revenue, GBR managed to maintain profitability, reporting a net income of $7,000 for the third quarter of 2023. This is a slight decline from the net income of $27,000 in the same period last year. The company's ability to generate positive earnings in a challenging market environment is commendable.

Challenges

The primary challenge faced by GBR in the latest quarter was the lower selling price for oil and gas, which resulted in a reduction in revenue from management fees. This indicates a potential vulnerability to fluctuations in commodity prices, which could impact the company's overall financial performance.

Noteworthy

It is worth noting that GBR's corporate general and administrative expenses remained relatively stable, with expenses of $70,000 in the third quarter of 2023 compared to $71,000 in the same period last year. This indicates effective cost management by the company.

Summary

GBR experienced a decrease in revenue for the third quarter of 2023, primarily driven by lower management fees due to a decline in the selling price of oil and gas. However, the company was able to maintain profitability, reporting a net income of $7,000. GBR's ability to control general and administrative expenses demonstrates effective cost management. Going forward, the company may need to address its vulnerability to commodity price fluctuations to ensure sustained revenue growth.

Source documents

Form 10-Q  filed on Nov 09, 2023
153 pages scanned

Reference data

Company financials Q3 revenue 37k
Analyst estimates Q3 EPS missed by NaN%
Sign up to Fey

Get in-depth analysis on thousands of stocks for just $30/month. Cancel anytime.