HNRC STRONG FOURTH QUARTER EARNINGS EXPECTED PROJECTED TO CONTINUE IN 2022

Rhea-AI Summary

Houston Natural Resources Corp. (OTC: HNRC) anticipates robust financial performance for Q4 2021, projecting revenues of $17 million and earnings before interest, taxes, depreciation, and amortization (EBITDA) of $8 million. For 2022, forecasts indicate revenue surpassing $23 million and EBITDA exceeding $10 million, aiming for earnings of over $0.50 per share. The company experienced over 81% revenue growth, totaling $12.86 million in the past nine months, with net income increasing by 192% to $7.09 million. Net assets have risen over 100% to $73.45 million.

Positive

• Projected revenue increase to over $23 million in 2022.
• EBITDA expected to exceed $10 million in 2022.
• Revenue growth of over 81% to $12.86 million in the last nine months.
• Net income increased by 192% to $7.09 million.
• Net assets rose over 100% to $73.45 million.

Negative

• None.

HOUSTON, Dec. 15, 2021 /PRNewswire/ --  Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today that it expects to report strong results for the quarter ending December 31, 2021 and expects it to continue in 2022.

The company is currently projecting revenues for 2021 to be $17m and $8m in earnings before interest, taxes, depreciation and amortization. This would be an estimated $0.43c per share in earnings for 2021. The company is projecting revenue to exceed $23m in 2022 and $10m in earnings before interest, taxes, depreciation and amortization. The earnings would be projected to be in excess of $0.50c per share in 2022.

The company expects to achieve this through a combination of internal growth, acquisitions and expansion. In addition, the company expects to see an increase in advisory services revenue from its investment portfolio. 

The company is targeting acquisitions in the $10m to $50m range to increase its portfolio value.

The company's net assets have increased by more than 100% to $73,446,688 over the last three years. The company's net asset value is $4.00 per share for the period ending September 30, 2021. The company intends to continue to acquire additional assets over the next three years.

The company's revenues have increased by more than 81% to $12,855,708 over the last nine months from the previous year and net income increasing by more than 192% to $7,094,342.

The Company intends to focus on realizing the value on the total of $9.67 per share in assets held by its subsidiaries for the benefit of the shareholders. The strategy may include asset sales, a spin-off of one or more of its subsidiaries and dividends to shareholders. 

HNRC is a diversified holding company that has two subsidiaries, Houston Natural Resources, Inc ("HNRI") and Worldwide Diversified Holdings, Inc ("WDHI"). HNRI owns oil and gas properties and a waste-water treatment plant. WDHI has business operations that provide products & services in the Information Technology & Healthcare markets. 

About Houston Natural Resources Corp

Houston Natural Resources Corp (HoustonNaturalResources.com) (OTC: HNRC). The Company is dedicated to increasing shareholder value through developing natural resources with state-of-the-art innovative technologies in tandem with sustainable environmental services of toxic oil field waste disposal and recycling that are environmentally safe and socially responsible. 

About Worldwide Diversified Holdings, Inc.

Worldwide Diversified Holdings, Inc.(www.wdhinc.net). The company is a diversified holding company with business operations and investments. The portfolio companies include investments in information technology and healthcare.

FORWARD-LOOKING STATEMENTS:

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties.

Contact:
Houston Natural Resources Corp.
E-mail: frank@HoustonNaturalResources.com 
Phone: +1 757-707-4563

 

View original content:https://www.prnewswire.com/news-releases/hnrc-strong-fourth-quarter-earnings-expected-projected-to-continue-in-2022-301445459.html

SOURCE Houston Natural Resources Corp.

FAQ

What are HNRC's projected revenues for Q4 2021?

HNRC expects revenues of $17 million for Q4 2021.

What is the expected earnings per share for HNRC in 2021?

The expected earnings per share for HNRC in 2021 is $0.43.

How much revenue does HNRC project for 2022?

HNRC projects revenue to exceed $23 million in 2022.

What is HNRC's net income increase percentage for the last nine months?

HNRC's net income increased by 192% in the last nine months.