2023-03-09 19:10:07 ET
Argentina's YPF ( NYSE: YPF ) reported Thursday its Q4 net profit jumped 69% from the year-earlier quarter to $464M on revenues that rose 24% Y/Y to $4.65B, citing higher production and prices.
Q4 crude oil production gained 3% Q/Q to 232K bbl/day, while natural gas output fell 7% on lower seasonal demand.
Benchmark Brent crude oil prices averaged $88.60/bbl during the quarter, YPF said.
Q4 operating costs spiked 29% from a year earlier, largely due to foreign exchange effects on the Argentine peso and global inflation.
For FY 2022, YPF ( YPF ) reported a record annual net profit of $2.2B, while EBITDA for the year rose 27% to nearly $5B and total annual production increased 7% from 2021 to 503K boe/day.
YPF ( YPF ) shares have consolidated lately after a massive advance in 2022 but valuation remains compelling, Mike Zaccardi writes in an analysis published recently on Seeking Alpha .
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YPF posts record annual net profit; Q4 shows strong gains