Eterna Past Earnings Performance
Past criteria checks 5/6
Eterna has been growing earnings at an average annual rate of 22.8%, while the Oil and Gas industry saw earnings growing at 3.5% annually. Revenues have been growing at an average rate of 31.3% per year. Eterna's return on equity is 26.1%, and it has net margins of 2.3%.
Key information
22.79%
Earnings growth rate
19.78%
EPS growth rate
| Oil and Gas Industry Growth | 38.53% |
| Revenue growth rate | 31.30% |
| Return on equity | 26.10% |
| Net Margin | 2.27% |
| Last Earnings Update | 30 Jun 2026 |
Recent past performance updates
Recent updates
Eterna Plc Delivers Exceptional H1 2026 Earnings Growth Driven by Strong Revenue Expansion, Improved Margins and Balance Sheet Strengthening
Executive Summary Analyst: Qudus Adebara (Research Analyst, DLM Capital Group) Eterna Plc recorded a remarkable financial performance for the six months ended June 30, 2026, driven by strong growth in petroleum product sales, improved operating efficiency, and a significant reduction in debt obligations. Revenue rose by 37.8% YoY to ₦217.31 billion from ₦157.65 billion in H1 2025, while Gross Profit more than doubled to ₦15.99 billion.Eterna Plc Intensifies Retail Expansion and Business Diversification Strategy
Author: Qudus Adebara(Research Analyst, DLM securities) Eterna Plc has reaffirmed its commitment to expanding its downstream footprint and diversifying its operations following resolutions reached at its 33rd Annual General Meeting (AGM), positioning the company for long-term growth within Nigeria’s evolving energy sector. As part of its medium-term strategy, the company plans to significantly strengthen its retail and operational infrastructure through targeted investments across its fuel retail network, aviation operations, lubricants business, and Liquefied Petroleum Gas (LPG) segment.Eterna Plc Reports Strong Q1 2026 Earnings Recovery Driven by Improved Margins and Debt Reduction
Executive Summary Analyst: Qudus Adebara (Research Analyst, DLM Capital Group) Eterna Plc delivered a significantly improved financial performance for the quarter ended 31 March 2026, supported by stronger gross margins, reduced financing pressure, and improved working capital efficiency despite a slight decline in revenue. Revenue declined marginally by 3.8% YoY to ₦70.51 billion from ₦73.27 billion in Q1 2025, largely reflecting lower lubricant sales.Eterna Plc Delivers Improved FY 2025 Profit Despite Margin Compression and Working Capital Pressure
Analyst: Qudus Adebara (DLM Securities, Research Analyst) Executive Summary Eterna Plc recorded improved bottom-line performance for the year ended 31 December 2025, despite revenue contraction and significant gross margin compression. Revenue declined by 3.5% YoY to ₦302.52 billion , largely due to softer fuel sales.Eterna Plc – Modest Profitability Amid Lower Revenue in 9M 2025
Analyst: Qudus Adebara Executive Summary Eterna Plc delivered a modest performance for the nine months ended September 30, 2025, amid softer revenue and ongoing cost pressures. The Group reported revenue of ₦212.84 billion , a decline of 9% YoY from ₦233.75 billion in 9M 2024, driven largely by lower sales volumes across key product lines.Eterna Plc’s Rights Issue: Strengthening Logistics Backbone, Deepening LPG Penetration & Scaling Aviation Fueling Capacity
Eterna Plc’s decision to launch a ₦21.52 billion Rights Issue, Under the approved structure, existing shareholders will receive three (3) new shares for every four (4) shares held as of the November 27, 2025 qualification date. The offer opens on January 12, 2026 and closes on February 18, 2026 with current outstanding shares.Eterna Plc Q2/H1 Result– Strategic Turnaround Driving Renewed Growth
Eterna Plc Calls for Targeted LPG Investment to Accelerate Clean Energy Transition Overview At the 2025 NAEC Energy Conference themed “Nigeria’s Energy Future: Exploring Opportunities and Addressing Risks for Sustainable Growth,” the Managing Director of Eterna Plc, Mr. Olumide Adeosun, called for targeted investments in the liquefied petroleum gas (LPG) value chain to expand access and accelerate the adoption of clean cooking across Nigeria. While compressed natural gas (CNG) has gained significant government and private sector attention as a cleaner fuel alternative for transportation, Adeosun cautioned that LPG adoption has stagnated, undermining Nigeria’s energy transition and public health goals.Eterna Plc Q2/H1 Result– Strategic Turnaround Driving Renewed Growth
Eterna Plc Calls for Targeted LPG Investment to Accelerate Clean Energy Transition Overview At the 2025 NAEC Energy Conference themed “Nigeria’s Energy Future: Exploring Opportunities and Addressing Risks for Sustainable Growth,” the Managing Director of Eterna Plc, Mr. Olumide Adeosun, called for targeted investments in the liquefied petroleum gas (LPG) value chain to expand access and accelerate the adoption of clean cooking across Nigeria. While compressed natural gas (CNG) has gained significant government and private sector attention as a cleaner fuel alternative for transportation, Adeosun cautioned that LPG adoption has stagnated, undermining Nigeria’s energy transition and public health goals.Eterna Plc Q2/H1 Result– Strategic Turnaround Driving Renewed Growth
Eterna Plc: Sustains Profitability Amid Sector Headwinds, Driven by Strategic Agility Eterna Plc has delivered a solid turnaround in H1 2025 , reporting a ₦1.57 billion pre-tax profit compared to a ₦3.57 billion loss in H1 2024. Revenue grew modestly by 7% YoY to ₦157.7 billion , supported by strategic positioning, operational efficiency, and improved cost discipline.Revenue & Expenses Breakdown
How Eterna makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 30 Jun 26 | 362,028 | 8,228 | 13,164 | 0 |
| 31 Mar 26 | 299,607 | 3,440 | 11,846 | 0 |
| 31 Dec 25 | 302,370 | 2,917 | 11,206 | 0 |
| 30 Sep 25 | 292,705 | 1,524 | 11,416 | 0 |
| 30 Jun 25 | 323,782 | 6,164 | 11,080 | 0 |
| 31 Mar 25 | 319,141 | 6,275 | 10,698 | 0 |
| 31 Dec 24 | 313,616 | 1,349 | 10,671 | 0 |
| 30 Sep 24 | 293,719 | -4,702 | 8,111 | 0 |
| 30 Jun 24 | 261,488 | -7,783 | 8,571 | 0 |
| 31 Mar 24 | 219,847 | -14,632 | 8,637 | 0 |
| 31 Dec 23 | 183,282 | -9,433 | 8,172 | 0 |
| 30 Sep 23 | 147,855 | -5,090 | 8,030 | 0 |
| 30 Jun 23 | 128,539 | -6,248 | 7,419 | 0 |
| 31 Mar 23 | 120,832 | 1,270 | 6,233 | 0 |
| 31 Dec 22 | 116,472 | 1,012 | 5,732 | 0 |
| 30 Sep 22 | 112,760 | 4 | 4,486 | 0 |
| 30 Jun 22 | 101,423 | -40 | 3,965 | 0 |
| 31 Mar 22 | 94,631 | -635 | 4,393 | 0 |
| 31 Dec 21 | 82,198 | -1,100 | 4,066 | 0 |
| 30 Sep 21 | 76,102 | 1,163 | 4,508 | 0 |
| 30 Jun 21 | 68,188 | 1,316 | 4,182 | 0 |
| 31 Mar 21 | 55,561 | 1,712 | 3,774 | 0 |
| 31 Dec 20 | 58,716 | 941 | 3,741 | 0 |
| 30 Sep 20 | 62,002 | -101 | 3,408 | 0 |
| 30 Jun 20 | 102,026 | -321 | 3,390 | 0 |
| 31 Mar 20 | 186,347 | -844 | 3,421 | 0 |
| 31 Dec 19 | 229,275 | -144 | 3,387 | 0 |
| 30 Sep 19 | 257,774 | -16 | 3,302 | 0 |
| 30 Jun 19 | 234,666 | 154 | 3,323 | 0 |
| 31 Mar 19 | 258,018 | 840 | 3,239 | 0 |
| 31 Dec 18 | 251,878 | 1,009 | 3,079 | 0 |
| 30 Sep 18 | 252,939 | 1,155 | 3,815 | 0 |
| 30 Jun 18 | 266,370 | 1,918 | 3,466 | 0 |
| 31 Mar 18 | 175,402 | 1,831 | 3,224 | 0 |
| 31 Dec 17 | 173,030 | 2,002 | 3,195 | 0 |
| 30 Sep 17 | 160,098 | 1,820 | 2,141 | 0 |
| 30 Jun 17 | 146,399 | 1,549 | 2,099 | 0 |
| 31 Mar 17 | 140,512 | 1,868 | 2,173 | 0 |
| 31 Dec 16 | 106,888 | 1,478 | 2,045 | 0 |
| 30 Sep 16 | 94,315 | 2,270 | 2,076 | 0 |
| 30 Jun 16 | 70,451 | 1,657 | 1,973 | 0 |
| 31 Mar 16 | 70,666 | 1,386 | 1,849 | 0 |
| 31 Dec 15 | 92,065 | 1,278 | 1,810 | 0 |
| 30 Sep 15 | 113,212 | 1,023 | 1,589 | 0 |
Quality Earnings: ETERNA has a large one-off gain of NGN8.5B impacting its last 12 months of financial results to 30th June, 2026.
Growing Profit Margin: ETERNA's current net profit margins (2.3%) are higher than last year (1.9%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: ETERNA's earnings have grown significantly by 22.8% per year over the past 5 years.
Accelerating Growth: ETERNA's earnings growth over the past year (33.5%) exceeds its 5-year average (22.8% per year).
Earnings vs Industry: ETERNA earnings growth over the past year (33.5%) exceeded the Oil and Gas industry 14.2%.
Return on Equity
High ROE: ETERNA's Return on Equity (26.1%) is considered high.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/18 01:04 |
| End of Day Share Price | 2026/09/18 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Eterna Plc is covered by 0 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.