Talos Energy (TALO) FY2024 results: revenue $2.0 billion, up 35.4% on the year

Talos Energy Inc. (TALO) reported revenue of $2.0 billion for fiscal 2024, the year ended 31 December 2024, up 35.4% on the year before. Net income was -$76 million, and diluted earnings per share $-0.44. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.

Revenue

$2.0 billion

+35.4% on the year

FY2017FY2024

Operating margin

8.8%

14.4% a year earlier

FY2017FY2024

Net income

-$76 million

FY2017FY2024

Diluted EPS

-$0.44

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,974	1,458	1,652	+35.4%
Operating income	173	210	736	-17.6%
Operating margin	8.8%	14.4%	44.6%
Interest expense	188	173	125	+8.4%
Pre-tax income	-71.4	127	384
Income tax	5.0	-60.6	2.5
Effective tax rate	n/a	-47.8%	0.7%
Net income	-76.4	187	382
Net margin	-3.9%	12.8%	23.1%
Diluted EPS	-$0.44	$1.55	$4.56

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	963	519	710	+85.4%
Cash from investing	-1,320	-513	-312
Cash from financing	436	85.4	-423	+410.6%
Depreciation and amortisation	1,024	664	415	+54.3%
Share-based compensation	14.5	13.0	16.0	+11.6%
Buybacks	45.2	47.5	0.0	-4.9%
Diluted shares, weighted	176m	121m	84m	+45.4%
Shares outstanding at period end	n/a	n/a	83m

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	2,760	2,155	1,166	+28.1%
Non-controlling interest	0.0	n/a	n/a
Debt	1,221	1,026	585	+19.1%
Operating lease liabilities	15.5	18.2	14.9	-14.9%
Finance lease liabilities	112	131	149	-14.9%
Other liabilities	2,084	1,486	1,144	+40.2%
Total liabilities and equity	6,192	4,816	3,059	+28.6%
Fixed assets	5,215	4,040	2,643	+29.1%
Intangible assets	n/a	n/a	1.4
Cash and equivalents	108	33.6	44.1	+221.6%
Receivables	237	179	151	+32.2%
Other assets	632	563	219	+12.1%
Total assets	6,192	4,816	3,059	+28.6%

10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.