HNRC REPORTS RECORD RESULTS FOR PERIOD ENDING MARCH 31, 2022
Houston Natural Resources Corp. (OTC: HNRC) reported record financial results for the quarter ending March 31, 2022.
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Rhea-AI Summary
Houston Natural Resources Corp. (OTC: HNRC) reported record financial results for the quarter ending March 31, 2022. Total revenue reached $3,562,169, a 41% increase compared to the same quarter in 2021. Operating earnings surged by 123% to $2,062,075. Earnings per share rose to $0.08, marking a 33% increase. Total assets increased modestly by 2% to $73,973,967. The company plans to focus on acquisitions in water treatment and oil and gas sectors, alongside sponsoring new special purpose acquisition corporations.
Positive
- Total revenue increased by 41% to $3,562,169.
- Operating earnings surged 123% to $2,062,075.
- Earnings per share rose to $0.08, a 33% increase.
- Total assets increased by 2% to $73,973,967.
Negative
- None.
Details
News Market Reaction – HNRC
The recorded move for HNRC in the trading session of this news was -3.74%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
Significant Growth Reported in Total Revenue (
Significant Increase in Operating Earnings (
HOUSTON, April 28, 2022 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today record results for the quarter ending March 31, 2022.
Financial Results: Three Months March 31, 2022 vs Three Months March 31, 2021
- Total revenue for three months was
$3,562,169 vs$2,518,986 , an increase of41%
- Total earnings for three months were
$2,062,075 vs$920,866 , an increase of123%
- Total assets for the period were
$73,973,967 vs$72,616,087 , an increase of2%
- Earnings per share for three months was
$0 .08c vs$0 .06c, an increase of33%
- The company has a net asset value of
$3.03 per share as of March 31, 2022.
Frank Kristan, President of Houston Natural Resources Corp commented that:
"Our growth is continuing with strong results for the quarter ending March 31, 2022. The company's increase in revenues and earnings has been due to an increase in services it provides to its portfolio companies. The company is focused on sponsoring a new special purpose acquisition corporation in each quarter this year. This will provide dividends in the future. The company intends to make acquisitions of water treatment plants and oil and gas properties."
About Houston Natural Resources Corp
Houston Natural Resources Corp (www.hnrcholdings.com) (OTC:HNRC). The company is a diversified holding company with business operations and investments. The portfolio companies include investments in energy, 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@hnrcholdings.com
Houston Texas USA.
Phone: (757) 707-4563
View original content:https://www.prnewswire.com/news-releases/hnrc-reports-record-results-for-period-ending-march-31-2022-301535722.html
SOURCE Houston Natural Resources Corp.
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