Finning International First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags
Finning International (TSE:FTT) First Quarter 2024 Results
Key Financial Results
Revenue: CA$2.58b (up 8.6% from 1Q 2023).
Net income: CA$121.0m (down 9.7% from 1Q 2023).
Profit margin: 4.7% (down from 5.6% in 1Q 2023). The decrease in margin was driven by higher expenses.
EPS: CA$0.84 (down from CA$0.89 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Finning International Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 7.5%. Earnings per share (EPS) missed analyst estimates by 4.5%.
Looking ahead, revenue is expected to decline by 1.7% p.a. on average during the next 3 years, while revenues in the Trade Distributors industry in Canada are expected to grow by 2.6%.
Performance of the Canadian Trade Distributors industry.
The company's shares are down 2.2% from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Finning International (1 is a bit unpleasant) you should be aware of.
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