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Houston Natural Resources Corp. (OTC: HNRC) announced record financial results for the year ending December 31,2022 as follows: Revenues Up +12.6% Y/Y, Earnings Up 25.5% Y/Y, Assets Up 24.9% Y/Y, Earnings per share (EPS) $0.14 per share and Net Asset Value (NAV) $1.35 per share as of December 31, 2022.
Houston Natural Resources Corp is a company that could well be in focus among a number of investors this morning after its stocks emerged as one of the major gainers on Tuesday. The company was in the news yesterday after it announced its financial results for the fiscal year that ended on December 31, 2022.
The Houston Natural Resources Corp hit a high of $0.165 in intraday trading and had gone up by as much as 105.63% at some point. It eventually ended up with gains of 73.79% and recorded trading volumes that were fivefold the average daily trading volume. In this situation, it could be a good idea for investors to consider taking a closer look at the highlights from the financial results.
The company generated revenues to the tune of $20,516,899 for the fiscal year which reflected a rise of 12.6% from the prior year period when it generated revenues of $18,217,737. The total earnings also went up by 25.5% from $7,820,857 to $9,821,899.
The valuation of the total assets under the company’s control came in at $92,741,566 and that reflected a rise of 24.9% from the valuation of $74,251,027 at the end of the previous year. The earnings per share came in at $0.14 a share and the net asset value at the end of the period was $1.35 a share.
The President of Houston Natural Resources Corp Frank Kristan spoke about the company’s performance as well. He noted that everyone at the company was delighted at the strong performance that had been delivered in the fiscal year. The boost in revenues and earnings had primarily been brought about by the acquisitions that had been completed. Additionally, he went on to note, the company also started offering more services to its portfolio companies and that had a positive effect as well.
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