CW Petroleum Corp (OTCQB: CWPE) Reports Revenues for Q4-2024, Year-End
CW Petroleum Corp (CWPE) has reported its Q4 and full-year 2024 unaudited financial results. For Q4 2024, the company recorded revenues of $1.73 million, down from $1.98 million in Q4 2023, while achieving a net income of $48,633 compared to a loss of $9,749 in the prior year period. EBITDA improved to $96,220 from $51,567.
Full-year 2024 performance showed revenues of $8.00 million, declining from $9.31 million in 2023. The company's EBITDA decreased to $180,850 from $732,733, with a net loss of $44,322 compared to a profit of $449,293 in 2023. The revenue decline was attributed to lower average costs of renewable and petroleum-based fuels in 2024.
The company regained OTCQB status in May 2024 and is pursuing an uplisting to Nasdaq or NYSE, seeking a $5MM-$15MM capital raise for growth initiatives. The 2024 Financial Audit is underway, with the SEC Form 1-K due by April 30, 2025.
CW Petroleum Corp (CWPE) ha riportato i risultati finanziari non verificati per il quarto trimestre e per l'intero anno 2024. Per il Q4 2024, l'azienda ha registrato ricavi di $1,73 milioni, in calo rispetto a $1,98 milioni nel Q4 2023, ottenendo un reddito netto di $48.633 rispetto a una perdita di $9.749 nello stesso periodo dell'anno precedente. L'EBITDA è migliorato a $96.220 rispetto a $51.567.
Le performance dell'intero anno 2024 hanno mostrato ricavi di $8,00 milioni, in diminuzione rispetto a $9,31 milioni nel 2023. L'EBITDA dell'azienda è diminuito a $180.850 da $732.733, con una perdita netta di $44.322 rispetto a un profitto di $449.293 nel 2023. La diminuzione dei ricavi è stata attribuita ai costi medi più bassi dei carburanti rinnovabili e petroliferi nel 2024.
L'azienda ha riottenuto lo status OTCQB nel maggio 2024 e sta perseguendo un uplisting a Nasdaq o NYSE, cercando una raccolta di capitali tra $5M-$15M per iniziative di crescita. L'audit finanziario 2024 è in corso, con il modulo SEC Form 1-K in scadenza il 30 aprile 2025.
CW Petroleum Corp (CWPE) ha informado sus resultados financieros no auditados para el cuarto trimestre y el año completo 2024. Para el Q4 2024, la empresa reportó ingresos de $1.73 millones, por debajo de $1.98 millones en el Q4 2023, mientras que logró un ingreso neto de $48,633 en comparación con una pérdida de $9,749 en el mismo período del año anterior. El EBITDA mejoró a $96,220 desde $51,567.
El desempeño del año completo 2024 mostró ingresos de $8.00 millones, en descenso desde $9.31 millones en 2023. El EBITDA de la empresa disminuyó a $180,850 desde $732,733, con una pérdida neta de $44,322 en comparación con una ganancia de $449,293 en 2023. La caída en los ingresos se atribuyó a los costos promedio más bajos de los combustibles renovables y basados en petróleo en 2024.
La empresa recuperó el estatus OTCQB en mayo de 2024 y está buscando una uplisting a Nasdaq o NYSE, buscando una recaudación de capital entre $5M-$15M para iniciativas de crecimiento. La auditoría financiera de 2024 está en curso, con el formulario SEC Form 1-K a vencer el 30 de abril de 2025.
CW Petroleum Corp (CWPE)는 2024년 4분기 및 연간 감사되지 않은 재무 결과를 발표했습니다. 2024년 4분기 동안 회사는 $1.73백만의 수익을 기록했으며, 이는 2023년 4분기의 $1.98백만에서 감소한 수치입니다. 또한 전년 동기 대비 $9,749의 손실에서 $48,633의 순이익을 올렸습니다. EBITDA는 $51,567에서 $96,220로 개선되었습니다.
2024년 연간 실적은 $8.00백만의 수익을 나타냈으며, 2023년의 $9.31백만에서 감소했습니다. 회사의 EBITDA는 $732,733에서 $180,850로 감소했으며, 2023년의 $449,293의 이익과 비교하여 $44,322의 순손실이 발생했습니다. 수익 감소는 2024년에 재생 가능 연료 및 석유 기반 연료의 평균 비용이 낮아졌기 때문입니다.
회사는 2024년 5월에 OTCQB 지위를 회복했으며 Nasdaq 또는 NYSE로의 상장을 추진하고 있으며, 성장 계획을 위해 $5M-$15M의 자본 조달을 계획하고 있습니다. 2024년 재무 감사가 진행 중이며, SEC 양식 1-K는 2025년 4월 30일까지 제출해야 합니다.
CW Petroleum Corp (CWPE) a annoncé ses résultats financiers non audités pour le quatrième trimestre et l'année complète 2024. Pour le Q4 2024, l'entreprise a enregistré des revenus de $1,73 million, en baisse par rapport à $1,98 million au Q4 2023, tout en réalisant un bénéfice net de $48,633 comparé à une perte de $9,749 durant la période de l'année précédente. L'EBITDA a augmenté à $96,220 contre $51,567.
Les performances de l'année 2024 ont montré des revenus de $8,00 millions, en baisse par rapport à $9,31 millions en 2023. L'EBITDA de l'entreprise a diminué à $180,850 contre $732,733, avec une perte nette de $44,322 par rapport à un bénéfice de $449,293 en 2023. La baisse des revenus a été attribuée aux coûts moyens plus bas des carburants renouvelables et pétroliers en 2024.
L'entreprise a retrouvé le statut OTCQB en mai 2024 et cherche à être cotée sur le Nasdaq ou le NYSE, cherchant à lever entre $5M-$15M de capitaux pour des initiatives de croissance. L'audit financier 2024 est en cours, avec le formulaire SEC Form 1-K dû d'ici le 30 avril 2025.
CW Petroleum Corp (CWPE) hat seine ungeprüften finanziellen Ergebnisse für das vierte Quartal und das Gesamtjahr 2024 bekannt gegeben. Im vierten Quartal 2024 verzeichnete das Unternehmen Einnahmen von $1,73 Millionen, was einem Rückgang von $1,98 Millionen im Q4 2023 entspricht, während ein Nettogewinn von $48.633 erreicht wurde, verglichen mit einem Verlust von $9.749 im Vorjahreszeitraum. EBITDA verbesserte sich von $51.567 auf $96.220.
Die Ergebnisse für das Gesamtjahr 2024 zeigten Einnahmen von $8,00 Millionen, ein Rückgang von $9,31 Millionen im Jahr 2023. Das EBITDA des Unternehmens sank von $732.733 auf $180.850, mit einem Nettverlust von $44.322 im Vergleich zu einem Gewinn von $449.293 in 2023. Der Rückgang der Einnahmen wurde auf niedrigere durchschnittliche Kosten für erneuerbare und auf Erdöl basierende Kraftstoffe im Jahr 2024 zurückgeführt.
Das Unternehmen hat im Mai 2024 den OTCQB-Status wiedererlangt und strebt eine Listung an der Nasdaq oder NYSE an, wobei es eine Kapitalerhöhung von $5M-$15M für Wachstumsinitiativen anstrebt. Die Finanzprüfung 2024 läuft, wobei das SEC-Formular 1-K bis zum 30. April 2025 fällig ist.
- Q4 2024 net income improved to $48,633 from a loss of $9,749 in Q4 2023
- Q4 2024 EBITDA increased to $96,220 from $51,567 year-over-year
- Regained OTCQB status in May 2024
- Q4 2024 revenue declined to $1.73M from $1.98M year-over-year
- Full-year 2024 revenue decreased to $8.00M from $9.31M in 2023
- 2024 EBITDA dropped to $180,850 from $732,733 in 2023
- Full-year 2024 resulted in a net loss of $44,322 compared to $449,293 profit in 2023
Katy, Texas, Feb. 11, 2025 (GLOBE NEWSWIRE) -- CW Petroleum Corp (OTCQB: CWPE) (the “Company”), a leading provider of Specialty Renewable and Hydrocarbon Motor Fuels, today announces to its investors and future investors unaudited financial results for the fourth quarter ended December 31, 2024, Year-End 2024.
Key Financial Highlights for Three Months Ended December 31, 2024, Compared to Prior Year Period:
- 2024 Revenues of
$1.73 Million vs 2023 Revenues of$1.98 Million - 2024 EBITDA of
$96,220 vs 2023 EBITDA of$51,567 - 2024 Net Income of
$48,633 vs 2023 Net Income (loss) of ($9,749)
Key Financial Highlights for Twelve Months Ended December 31, 2024, Compared to Prior Year Period:
- 2024 Revenues of
$8.00 Million vs 2023 Revenues of$9.31 Million - 2024 EBITDA of
$180,850 vs 2023 EBITDA of$732,733 - 2024 Net Income (loss) of (
$44,322) vs 2023 Net Income of$449,293
Management Commentary:
Chief Executive Officer Christopher Williams commented, “The Company continues to produce substantial annual revenues between
The Company’s 2024 Financial Audit has started and will report its SEC Form 1-K (2024 Annual Report) by 4/30/2025.
Additional accurate information about the Company can be found on the OTC Markets website at the following links and on the EDGAR filing website provided by the Securities and Exchange Commission:
CWPE Overview
CWPE Security Detail
CWPE Financials
CWPE News
CWPE Disclosures
For additional information, visit our website at cwpetroleumcorp.com, email: investor@cwpetroleumcorp.com , or call 281-817-8099
About CW Petroleum Corp
CW Petroleum Corp, a Texas corporation, began operations in 2011. CW Petroleum Corp, a Wyoming corporation, was incorporated in April 2018 and has acquired the Texas corporation as a wholly-owned subsidiary. CW Petroleum Corp supplies and distributes Biodiesel, Biodiesel Blends, Renewable Gasoline, and a 92 Octane Reformulated No Ethanol Gasoline to distributors, convenience stores, marinas, and end-users. The EPA licenses the Company to create its proprietary gasoline blends. CW Petroleum Corp is licensed to distribute Diesel Fuel & Gasoline by the States of Texas, Louisiana, Oklahoma, California, Colorado, New Jersey, Maryland, Pennsylvania, and Arizona.
Forward-Looking Statements
Certain statements in this press release may contain “forward-looking statements” regarding future events and our future results. All statements other than statements of historical facts are statements that could be deemed to be forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the oil and gas markets, energy markets, and other markets in which we operate and the beliefs and assumptions of our management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “endeavors,” “strives,” “may,” or variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that these forward-looking statements are subject to a number of risks, uncertainties, and assumptions that are difficult to predict, estimate, or verify. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Such risks and uncertainties include those factors described in the Company’s most recent annual report on Form 1-K, which may be amended or supplemented by subsequent semiannual reports on Form 1-SA or other reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the Company’s filings with the Securities and Exchange Commission.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
FAQ
What were CWPE's Q4 2024 revenue and net income results?
Why did CWPE's revenue decline in 2024 compared to 2023?
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How did CWPE's full-year 2024 financial performance compare to 2023?
