11:56 AM EDT, 03/21/2025 (MT Newswires) -- (Adds detail and updates shares.)

Canacol Energy (CNE.TO) late on Wednesday said it swung to a loss in the fourth quarter, falling short of analysts' estimates.

The company said it lost US$25.4 million, or US$0.75 per share, in the quarter, compared with a year-prior profit of US$29.9 million, or US$0.88. Analysts polled by FactSet expected earnings per share of US$0.99.

The company said the loss came on a one-time charge as it as it recognized a non-cash deferred income-tax expense of US$28.9 million.

Revenue came in at US$98.3 million, up 23% from US$79.7 million. Analysts polled by FactSet expected revenues of US$93.1 million.

The company produced 29,242 barrels of oil equivalent per day, down 3% from 30,123 boe/d.

Separately, Canacol reported conventional natural gas, light, medium and heavy crude oil proved plus probable reserves of 11.9-million barrels of oil equivalent.

Reserve life index was 10.2 years based on annualized fourth-quarter 2024 conventional natural gas and light/medium/heavy crude oil production of 28,296 barrels of oil equivalent per day.

Canacol shares were last seen down $0.29 to $3.66 on the Toronto Stock Exchange.

Price: 3.66, Change: -0.29, Percent Change: -7.34

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