Cox Energy América (COXA) Q4 2024 earnings summary

Executive summary

• Consolidated revenues for 2024 reached $5,049 million, a 321% increase year-over-year, driven by new productive energy assets and expanded operations in multiple geographies.

• Gross profit rose to $2,778 million, up $2,329 million from 2023, with a gross margin of 55.0%.

• EBITDA for 2024 was $2,366 million (46.9% margin), and net income swung to $747 million from a net loss of $126 million in 2023.

• Cash, equivalents, and restricted cash closed at $956 million as of December 31, 2024.

• Major acquisitions included Ibexia Cox Energy Development and Son Rivieren, expanding the company’s international footprint.

Financial highlights

• Revenue: $5,049 million in 2024 vs. $1,200 million in 2023 (+321%).

• Gross profit: $2,778 million in 2024 vs. $449 million in 2023; gross margin 55.0%.

• EBITDA: $2,366 million in 2024 (46.9% margin); net income: $747 million vs. net loss of $126 million in 2023.

• Operating expenses rose to $1,537 million, mainly due to integration of acquired assets.

• Cash and equivalents increased by $78 million year-over-year.

Outlook and guidance

• Management targets continued growth through expansion in Latin America, Europe, and other regions, focusing on renewable energy projects.

• The business plan emphasizes value creation via project development, operational expansion, acquisitions, and joint ventures.

• No significant financial impact expected from recent regulatory reforms in Mexico; company continues to monitor legislative changes.