Yahoo Finance IGM Financial First Quarter 2024 Earnings: EPS Beats Expectations
IGM Financial (TSE:IGM) First Quarter 2024 Results
Key Financial Results
Revenue: CA$891.8m (down 12% from 1Q 2023).
Net income: CA$223.4m (down 41% from 1Q 2023).
Profit margin: 25% (down from 37% in 1Q 2023). The decrease in margin was primarily driven by lower revenue.
EPS: CA$0.94 (down from CA$1.59 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
IGM Financial EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%.
Looking ahead, revenue is expected to decline by 4.5% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Canada are expected to grow by 11%.
Performance of the Canadian Capital Markets industry.
The company's shares are up 11% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on IGM Financial's balance sheet health.
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