Cardinal Energy Ltd. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was CAD 112.13 million compared to CAD 185.06 million a year ago. Net income was CAD 27.72 million compared to CAD 98.59 million a year ago. Basic earnings per share from continuing operations was CAD 0.18 compared to CAD 0.64 a year ago. Diluted earnings per share from continuing operations was CAD 0.17 compared to CAD 0.63 a year ago.
For the six months, revenue was CAD 222.52 million compared to CAD 326.05 million a year ago. Net income was CAD 44.04 million compared to CAD 155.83 million a year ago. Basic earnings per share from continuing operations was CAD 0.28 compared to CAD 1.03 a year ago. Diluted earnings per share from continuing operations was CAD 0.28 compared to CAD 1 a year ago.